ECB cuts interest rates for first time in almost five years

BUSINESS © FRANCE 24

The European Central Bank has decided to lower its benchmark interest rates by 0.25 percent from a record high, effective June 12. However, the ECB also revised its outlook for the coming months and said it no longer believed inflation would hit its target of 2 percent this year, but instead would average at around 2.2 percent. Plus, Ireland is losing hundreds of young doctors every year as they emigrate to Australia in search of better working conditions.