ECB cuts key rate quarter point to record low 0.75%

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The European Central Bank cut its key interest rates to all-time lows Thursday in a bid to keep up the positive momentum after EU leaders made some progress in solving the debt crisis at a summit last week. The ECB’s policy-setting governing council voted to lower the rate for its main refinancing operations by a quarter of a percentage point to 0.75 percent at the regular monthly meeting here.