THE WORLD'S MOST EXPENSIVE PHONE VALUED AT $15 MILLION.

 this iPhone includes 600 flawless white diamonds, a full solid gold dressing and 53 diamonds on the rear that make up the iconic Apple logo.

However, the reason this particular iPhone is so valuable is on the face of the phone.

EUROPEAN CENTRAL BANK CUTS INTEREST RATES

The European Central Bank reduced its main refinancing rate from 0.75 percent to 0.5 percent today. The rate sets what banks pay to borrow money for a week or more.

The interest rate cuts – the first change in interest rates in ten months – indicate Europe’s central bankers are concerned about falling inflation and rising unemployment in the euro zone.

The ECB also cut its rate for overnight borrowing from 1.5 percent to 1 percent. The central bank’s deposit rate remains at zero.

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