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ECB cuts interest rates, extends stimulus package to March 2017

by ChemOrbis Editorial Team -
  • 03/12/2015 (17:02)
According to media reports, the European Central Bank (ECB) cut the deposit rate from minus 0.2% to a fresh record low of minus 0.3% today in line with expectations while keeping the refinancing rate unchanged at 0.05%.

ECB president Mario Draghi stated in today’s meeting that the ECB would extend their €60 billion ($64.8 billion) per month bond-buying program to at least March 2017 in order to spur the bloc’s low inflation rate of around 0.1%, which is well below the Bank’s target of around 2%. However, the bank did not increase the size of their stimulus measures.
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