NEW YORK - The European Central Bank announced its Governing Council cut interest rates 25 basis points at its latest monetary policy meeting Thursday.

The minimum bid rate on variable-rate refinancing operations was dropped to 0.75% from 1.00%, the marginal lending rate was cut to 1.50% from 1.75% and the deposit rate, the floor for euro money market rates, was slashed to zero from 0.25%.


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