Passage: In April 2011, the ECB raised interest rates for the first time since 2008 from 1% to 1.25%, with a further increase to 1.50% in July 2011. However, in 2012-2013 the ECB sharply lowered interest rates to encourage economic growth, reaching the historically low 0.25% in November 2013. Soon after the rates were cut to 0.15%, then on 4 September 2014 the central bank reduced the rates by two thirds from 0.15% to 0.05%, the lowest rates on record.
How many percentage points did interest rates drop between April 2011 and November 2013? How many percentage points did interest rates drop between April 2011 and September 2014? How many percentage points did the interest rates raise in April? How many percentage points did the interest rates raise in July? How many years passed since 2008 before interest rates were raised?