Tesco CEO asked for easier credit for companies

The ECB lowered its benchmark interest rate by half a percentage point last week to 2 percent, its fourth cut in as many months, reacting to the deepening euro zone recession, but Terry Leahy thinks it's not enough.

 The CEO
of British retailer Tesco Plc urged banks to help ease credit
conditions for companies as interest rate cuts from the European
Central Bank were not sufficient to revive the real economy.

Leahy said
he expected food prices to ease as commodity prices come off their
peaks but warned a weakening pound might stoke inflationary
pressures.