ECB Cuts Rates By Three Quarters

The European Central Bank cut it's interest rate by three quarters of a percent to 2.5% today.

Analysts had been anticipating a cut of between a half and three quarters.

EU base rates are now half a point higher than rates here in the UK.

The euro dipped slightly following the news to 86.41 pence against the pound, from an earlier all-time high of 86.93 pence.