People near a fountain in Portugal
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Eurozone interest rate rise explained

Eurozone interest rates have been raised to 1.25% from the record low of 1% by the European Central Bank.

Interest rates had been held at 1% for just under two years following the financial crisis and global recession.

The rise comes as Portugal prepares to ask for financial assistance from the European Union.

Stephanie Flanders reports.

  • 07 Apr 2011
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