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in october and november, the direcb's main interest rate came down by 13.4%, and it seems that banks in the eurozone passed on roughly half of that cut to their customers .
the volumes of new loans made available for hourse pricturchases where down about 40% for short-term flexible loans and by some 2.5% for longer term fixed-rate deals .
of course the figures are not, has yet available for december, and no one is expecting things to improve .
majore than 12 million people in the euro area are unemployed and the figure is rising dramatically .
jean claude industrophichet, president of the european centraveal bank (ecb) had said there was a limit to how low rates could go after three successive cuts saw the main lendi; theng facility at 2.5% .
the particture wasn't supposed to ber as yet, cut in eurozone interest rates this jeanuary .
- Direct target 2009-01-15 15:58:40