The ECB has cut its deposit rate deeper into negative territory
The European Central Bank has cut its main interest rate from 0.05% to 0% - the first cut since September 2014 - in an effort to boost sagging euro zone economy.
The bank has also cut its deposit rate deeper into negative territory, cutting it to -0.4% from -0.3%.
The ECB also said that it would increase its bond buying programme from €60 billion a month to €80 billion a month.
The bank also said it would launch a new series of four targeted longer-term refinancing operations (TLTRO), each with a maturity of four years
ECB President Mario Draghi will hold a press conference later this afternoon.
http://www.rte.ie/news/business/2016/0310/773861-ecb-rates-meeting/
The European Central Bank has cut its main interest rate from 0.05% to 0% - the first cut since September 2014 - in an effort to boost sagging euro zone economy.
The bank has also cut its deposit rate deeper into negative territory, cutting it to -0.4% from -0.3%.
The ECB also said that it would increase its bond buying programme from €60 billion a month to €80 billion a month.
The bank also said it would launch a new series of four targeted longer-term refinancing operations (TLTRO), each with a maturity of four years
ECB President Mario Draghi will hold a press conference later this afternoon.
http://www.rte.ie/news/business/2016/0310/773861-ecb-rates-meeting/