THE ECONOMIST : Business this week Apr 8th 2009 From The Economist print editionAmerica’s unemployment rate rose to 8.5% in March, its highest level in 25 years. More than 5m jobs have been lost since the recession started in December 2007.
A big drop in producer prices and retail sales in the euro area caused some analysts to predict that the European Central Bank will loosen monetary policy further. On April 2nd the ECB reduced its main interest rate by a quarter of a percentage point, less than expected, to 1.25%.
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