Thursday, September 4, 2014

European Central Bank Cuts Rates to a Record Low

In the end, central bankers are always inflationsits.

The European Central Bank has cut interest rates to a record low.

The governing council cut its benchmark main refinancing rate from 0.15 per cent to 0.05 per cent and said it would charge lenders 0.2 per cent, up from 0.1 per cent, for their deposits parked at the central bank.

The real problem in most of the European Union countries is government regulations which suffocate businesses and make new employee hiring very risky--plus high taxes.

Nothing is going to turn the EU around until that's changed.


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