ECB reduces rate to 3.75% across eurozone, putting it ahead of US Federal Reserve and Bank of EnglandThe European Central Bank has eased the pressure on borrowers across the eurozone after cutting its main interest rate for the first time in almost five years.Citing a sustained fall in inflation, the ECB said its deposit rate would be cut to 3.75% from a record high of 4%, putting it ahead of the US Federal Reserve and the Bank of England, which have yet to cut interest rates. Continue reading...