1. WHEW!

    ECB Cuts Interest Rates

    The Euro logo is seen in front of the European Central bank ECB prior to the press conference following the meeting of the Governing Council in Frankfurt/Main, Germany, on April 4, 2013. The European Central Bank cannot step into the breach left by a lack of action by eurozone governments to solve the region's debt crisis, ECB chief Mario Draghi said on Thursday. AFP PHOTO / DANIEL ROLAND        (Photo credit should read DANIEL ROLAND/AFP/Getty Images)

    Daniel Roland/AFP/Getty

    While expected, the European Central Bank’s move to cut its main interest rate Thursday comes as a welcome step in the right direction for many analysts. The ECB’s governing council cut the refinancing rate to a new low of 0.5 percent. The change in rate affects over €850 billion in ECB loans. While the ECB had planned on a healthier euro zone by springtime, data coming out this month are likely to show the economy contracting for the sixth straight quarter.

    Read it at The Wall Street Journal