EBCThe European Central Bank (ECB) said it was “ready to act if needed”, should more be required to boost the eurozone’s economic health.

The bank also lowered its benchmark interest rate to 0.50% from 0.75%, the first cut in 10 months.

Worries about eurozone persist, with data showing manufacturing activity across the 17-nation bloc shrank in April.  The European Central Bank also extended its cheap loans to banks until at least July 2014.

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