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March 2016

ECB cut interest rate

Published: Thursday 10 March 2016

The European Central Bank have cut their interest rate to 0% from 0.05% in a package of measures designed to stimulate the Eurozone economy. The ECB is also expanding its quantitative easing programme from €60bn to €80bn a month and will now include the purchase of corporate bonds as well as government debt.
Also included was a further cut in the bank deposit rate which now stands at minus 0.4%, down from minus 0.3%, costing banks more to leave funds on deposit with the ECB. Mario Draghi has been giving a press conference revising GDP estimates providing further details on the QE programme.
There has been significant and ongoing volatility in response to these measures and Mr. Draghi’s comments.