ECB cuts interest rates
                     English.news.cn | 2014-06-06 09:41:33 | Editor: An

 

GERMANY-FRANKFURT-ECB-INTEREST RATES

The European Central Bank (ECB) President Mario Draghi attends a news conference in Frankfurt, Germany, June 5, 2014. The ECB on Thursday announced that interest rates of the main refinancing operation, marginal lending facility and deposit facility will be cut to 0.15 percent, 0.4 percent and -0.1 percent respectively. (Xinhua/Luo Huanhuan)

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ECB cuts interest rates, unveils stimulus package

FRANKFURT, June 5 (Xinhua) -- The European Central Bank (ECB) on Thursday announced that interest rates of the main refinancing operation, marginal lending facility and deposit facility will be cut to 0.15 percent, 0.4 percent and -0.1 percent respectively.

Addressing a press conference following the governing council meeting, the ECB president Mario Draghi said the rate cut was among "a combination of measures to provide additional monetary policy accommodation and to support lending to the real economy".  Full story

News Analysis: ECB's credit moves could be tailor made to help Italy recovery, experts say

ROME, June 5 (Xinhua) -- The European Central Bank's dramatic decision to slash interest rates and trigger other mechanisms to help spur more bank loans and economic growth may have been tailor made to help give momentum to Italy's slow-moving economic recovery, experts said Thursday.

The ECB entered new territory with its moves Thursday, reducing its main lending rate to just 0.15 percent, making it nearly free for euro-zone banks to borrow money they can then loan to consumers and businesses. The previous low - 0.25 percent - had been in effect since November. Full story

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