While you were sleeping ECB surprises with rate cut

Thu, 07 Nov 2013

By Margreet Dietz Nov. 8 (BusinessDesk) - Equities on both sides of the Atlantic fell, and bond prices rose, after a surprise interest rate cut by the European Central Bank underpinned the struggle of the euro zone economies to recover. The euro slumped, sliding as much as 1.6 percent against the greenback, after the ECB slashed its benchmark interest rate to a record-low 0.25 percent in an effort to bolster growth. "The risks surrounding the economic outlook for the euro area continue to be on the downside," ECB President Mario Draghi said...

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