European Central Bank (ECB) surprisingly cut its benchmark interest rate for the first time by 25 basis points (bps). Increasingly uncertain conditions of crisis in Europe, like Italy and Spain, forcing the ECB lowers interest rate to 1.25 percent.

The prospect of Greece exit from the European Union is also a major consideration of the monetary authority in taking decisions.

Mario Draghi, who chaired the ECB, making predictions 51 of 55 economists surveyed by Bloomberg was missed. Two other economists predict the right, while the other two predict the trimming to 0.5 percent. “Pruning is in a very surprising,” said Nick Kounis, Head of Research ABN Amro in Amsterdam.

However, he considers it appropriate for the decision and forward the European Central Bank will cut interest rates again. “Europe’s economy more and more immersed by the recession, even the last few days was very significant downside risks,” he said.

Draghi led the press conference at 14:30 am Frankfurt time. He was under market pressure the central bank wants to keep buying bonds in the euro area countries are depressed.