The European Central Bank lately lowered its key interest rate to

News Item 1
    Jean-Claude Trichet, President of the European Central Bank (ECB) addresses the media during a news conference in Frankfurt, central Germany, March 5, 2009. Key interest rates are being cut to new record lows in the battle to jolt European economies out of recession.
    The Bank of England Thursday slashed its benchmark interest rate to 0. S percent, a 314-year low, while (6) the European Central Bank lowered its key interest rate to l.5 percent.
    Both central banks hope cutting interest rates will help ease the credit crunch that has made it difficult for consumers and companies to get the loans they need to do business, something previous rate cuts have failed to accomplish.