ECB Cuts Euro Interest Rates

28 July, 2011


The European Central Bank has cut the Eurozone interest rate by 0.25% to 1.25%.

This was a smaller cut than expected and may cause some Euro strength – making the best Euro exchange rates more expensive if you are sending money abroad.

Analysts were hoping for at least a 0.5% cut, which may have weakened the Euro and given a boost to the Pound.