Interest rates cut to record lows in ECB. India also cuts interest rates.

[Sobotnik]

[quote]India has cut interest rates for the third time this year in an attempt to revive growth in its sluggish economy.

The Reserve Bank of India (RBI) lowered its key rate to [b]7.25% from 7.5%.[/b]

India's growth rate has dipped, amid a slowdown in key sectors such as manufacturing, prompting the government to lower growth forecasts.

As a result, the central bank has been under pressure to take steps to help stimulate a fresh wave of economic growth in Asia's third-largest economy.[/quote]

[img]http://news.bbcimg.co.uk/media/images/51710000/jpg/_51710488_011228247-1.jpg[/img]
[i]Rising food costs have seen India's central bank resist calls for cutting interest rates.[/i]

[url]http://www.bbc.co.uk/news/business-22394212[/url]

[quote]The European Central Bank (ECB) said it was "ready to act if needed", should more be required to boost the eurozone's economic health.

The bank also lowered its benchmark interest rate to [b]0.50% from 0.75%[/b], the first cut in 10 months.

Worries about eurozone persist, with data showing manufacturing activity across the 17-nation bloc shrank in April.

The ECB also extended its cheap loans to banks until at least July 2014.[/quote]

[img]http://news.bbcimg.co.uk/media/images/67346000/jpg/_67346000_67345999.jpg[/img]

[i]The ECB's key interest rate was already at the historic low of 0.75%[/i]

[url]http://www.bbc.co.uk/news/business-22369765[/url]

Hopefully with this, things will start picking up later, hopefully with employment and inflation rising a bit. The ECB cut is a record low one, and for a while we have had lower employment coupled with lower inflation.