Eurozone rates to fall further

European borrowing costs still have further to fall as economic woes mount across the eurozone, the European Central Bank made clear on Thursday, as the Bank of England slashed UK interest rates by another half a percentage point. The ECB left its main interest rate at 2 per cent but Jean-Claude Trichet, president, said borrowing costs had not hit a lower limit and noted that financial markets expected a half point cut to 1.5 per cent in March.