PARIS (Reuters) - President Francois Hollande on Thursday welcomed the European Central Bank's decision to cut interest rates to record lows, citing the positive effect of the move in stimulating growth.
Hollande made the comment at a news conference after a meeting of Group of Seven leaders in Brussels.
The ECB earlier cut interest rates to record lows, imposing negative rates on its overnight depositors to cajole banks into lending more and to fight off the risk of Japan-like deflation.
(Writing by Mark John)