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European Central Bank holds interest rates steady at record low

by ChemOrbis Editorial Team - content@chemorbis.com
  • 22/10/2015 (17:22)
According to media reports, the European Central Bank (ECB) kept its key interest steady on October 22 at a record low of 0.05% in line with expectations. The ECB held its marginal lending rate flat at 0.03% and its deposit facility rate at -0.2%.

Following the rate announcement, ECB president Mario Draghi stated in a news conference that slowing growth in China and other large developing economies as well as weak commodity prices put downward pressure on both economic growth and inflation.

Draghi also signaled that they are preparing to expand their €60 billion ($68.12 billion) per month bond-buying program and may even cut their already negative deposit rate, adding that policy makers may review stimulus measures when they next meet in December.
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