Eurozone interest rates slashed

Press Association
GERMANY-ECB-EU-EUROZONE
GERMANY-ECB-EU-EUROZONE

%VIRTUAL-SkimlinksPromo%Eurozone interest rates were slashed from 0.25% to 0.15% today as policy makers battle to revive the continent's moribund economy and stave off the threat of deflation.

The European Central Bank (ECB) also cut the overnight deposit rate for lenders that hold money with it from zero to -0.1% - effectively penalising them for hoarding cash and pushing them to lend.