http://economictimes.indiatimes.com/markets/global-markets/ecb-cuts-deposit-rate-to-0-10-pct-refinancing-rate-to-0-15-pct/articleshow/36129140.cms
FRANKFURT: The European Central Bank cut interest rates to record lows on Thursday, launched a series of measures to pump money into the sluggish euro zone economy, and pledged to do more if needed to fight off the risk of Japan-like deflation.
For the first time, the ECB will charge banks for parking funds at the central bank overnight in an attempt to force them to lend to small- and medium-sized businesses.
FRANKFURT: The European Central Bank cut interest rates to record lows on Thursday, launched a series of measures to pump money into the sluggish euro zone economy, and pledged to do more if needed to fight off the risk of Japan-like deflation.
For the first time, the ECB will charge banks for parking funds at the central bank overnight in an attempt to force them to lend to small- and medium-sized businesses.
The measures were also aimed at easing pressure one the strong euro, which is threatening economic recovery and importing disinflation.
Euro zone inflation has been stuck in what Draghi has called "the danger zone" below 1 per cent since October, mainly because of weaker commodity and food prices, but also because of wage and other adjustments in euro zone crisis countries.
Euro zone inflation has been stuck in what Draghi has called "the danger zone" below 1 per cent since October, mainly because of weaker commodity and food prices, but also because of wage and other adjustments in euro zone crisis countries.
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