FRANKFURT - The European Central Bank has cut its main interest rate by a quarter point to a record low of 0.75 per cent.
The move is an effort to stimulate the region's faltering economies by lowering the cost of borrowing.
The ECB's rate cut was one of several steps taken Thursday by major central banks, all grappling with slowing growth or economic contraction.
China also cut its key lending rate Thursday as it stepped up efforts to reverse its deepest economic slump since the 2008 global crisis.
Meanwhile the Bank of England is backing the injection of a further 50 billion pounds, or about US $78 billion, into the ailing British economy