By: Benzinga
May 02, 2013 at 09:07 AM EDT
Update: ECB Cuts Rates, Euro Drops Then Pops
The European Central Bank cut its main refi rate by 25 basis points to 0.5 percent, as expected. Also, the ECB cut the marginal lending rate unexpectedly by 50 basis points to 1.00 percent. The cuts come as Eurozone inflation slows and output indicators continue to point to a protracted slowdown
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