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The ECB governing council met in Bratislava (Photo: Vlado Benko)

ECB steps in, vows help 'as long as needed'

The European Central Bank on Thursday (2 May) lowered its key interest rate to a record low of 0.5 percent and vowed to take more action "if necessary", in a move aimed at alleviating recession and unemployment in the eurozone.

The governing council comprising of central bank chiefs from all 17 euro countries had a "very very strong prevailing consensus towards an interest cut," ECB chief Mario Draghi said in a press conference.

It is the first time in 10 months the key interest r...

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