ECB Cuts Rates Again as Euro Zone Economy Stagnates

CREDIT INTEREST RATE - FRANKFURT. The European Central Bank cut interest rates for the third time this year on Thursday, pointing out that inflation in the euro zone is now increasingly under control and the economic outlook has worsened.

The first back-to-back rate cut in 13 years marks a shift in focus for the euro zone's central bank from bringing down inflation to protecting economic growth, which has lagged far behind that of the United States for two years straight.