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    Eurozone interest rates at new low to aid flagging economy

    euronews (in English)

    by euronews (in English)

    The European Central Bank has cut borrowing costs to a new record low trying to breathe life into a weakening eurozone economy.

    The benchmark interest rate was reduced from 1.0 percent to 0.75 percent.

    But ECB President Mario Draghi and his policymakers resisted pressure from the financial markets and even the International Monetary Fund to take bolder measures.