Figure 12-1 illustrates the Federal reserve's response to the Great recession in the United States. A) how do central banks in other countries respond to recessions? Let us take a look at growth rates in the eU in the last few years and the reaction of the european Central Bank (eCB).1. For data, go to http://sdw.ecb.europa.eu/

Click "GDP in Price of Previous Year" > Click "Download" at the upper corner to down load the data (May need to minimize the web page (click on the square at the upper corner) to see the download at the bottom)

For interest rate use https://sdw.ecb.europa.eu/quickview.do?SERIES_KEY=143.FM.B.U2.EUR.4F.KR.DFR.CHG

B) make a graph for the period 2005-2015, showing GDp growth rates and the interest rate. Was the eU in a recession in 2008? how did the eCB react to the Great Recession?