European Commercial Bank has announced to bring down its benchmark from 0.5% to 0.25%.
In the Business world annalist become astonished by getting to know the down rates of the benchmark of ECB.
As in Eurozone inflation decreased to 0.7% in October due to fall in energy cost with highly effect on the Europe economy.
Due to the lowest figure of the inflation ECB has to decrease its interest rates and further actions will be taken soon but it was recommended for ECB to be in action first.
In January 2010 lowest inflation rates were recorded and after that now in October 2013 has change the inflation figures to lowest.
Due to increase in energy, food, alcohol, and tobacco prices Europe was facing the high economical pressure and crisis. But now by latest rate record the prices fell from the 1.4% t0 1.1%.
Carsten Brzeski the ING analyst said that
“Deflationary risks and the stronger euro seem to have motivated the ECB’s move,”
Now Mario Draghi the under present of ECB is considered as the most active person then other forerunners.
This decision was taken to make easier for the bank to have access to ECB for the cheaper interest rates. This resolution is to help the economy of the Europe to do well business and bring down the inflation and unemployment.
An unemployment crisis is most alarming for the economy, because 6,000 employees are living on the un-employment benefits before current month.