Business

ECB surprises with rate cuts, new stimulus plan

By David McHugh

Published September 4, 2014 9:45pm ET

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ECB surprises with rate cuts, new stimulus plan — President of European Central Bank Mario Draghi talks during a news conference in Frankfurt, Germany, Thursday, Sept. 4, 2014, following a meeting of the ECB governing council. The European Central Bank has cut its interest rates and announced a new stimulus program that involves buying financial assets, a bid to salvage a weak economic recovery. (AP Photo/Michael Probst) | Michael Probst

FRANKFURT, Germany (AP) — The European economy needs help. Most people didn’t expect it would arrive quite this quickly.

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