Draghi announces rate cut amid fears of mild recession

mario-draghi

The European Central Bank's (ECB) Governing Council voted to reduce its benchmark interest rate by 25 basis points to 1.25% on Thursday, amid growing fears the eurozone economy will fall into recession.

Leading his first Governing Council press conference, Mario Draghi, the president of the European Central Bank, said the economic outlook in the eurozone continued to be subject to "particularly high uncertainty" and "intensified downside risks", adding that the ongoing tensions in financial

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