The EU has become the second major global economy to cut its lending rate this week, saying it had made progress in tackling inflation.
The European Central Bank (ECB) announced a cut in its main interest rate from an all-time high of 4% to 3.75%.
That follows Canada's decision yesterday to cut its official lending rate.
The ECB's move comes as voters head to the polls for EU-wide elections over the next four days, with the outcome expected to reflect people's unhappiness over cost of living pressures.
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