ECB lowers eurozone interest rates to 0.05%Updated: 2014-09-04 21:59:06 (KST)
Speaking of stimulating the economy over to Europe
In an unexpected move, the European Central Bank cut its benchmark interest rate to record lows to spur economic growth and prevent the faltering eurozone economy from slipping back into recession.
The bank lowered its main interest rate to 0.0-5 percent from a previous record low of zero.one-five percent.
ECB President Mario Draghi also announced a new stimulus program to buy financial assets in private sectors in October to spur investment and growth.
The ECB made its last rate cut in June.