Economic Buzz: ECB Cuts Deposit Rates To Fresh Low Of -0.50%

Economic Buzz: ECB Cuts Deposit Rates To Fresh Low Of -0.50%

Sep 12, 2019 11:09 IST capital market

European Central Bank has announced a new stimulus package, in an attempt to boost growth in the eurozone. The bank cut its deposit rate, charged on commercial bank deposits at the ECB, by 10 basis points to a new all-time low of minus -0.5%. The ECBs governing council has also decided to leave its benchmark interest rate at zero percent. The ECB is also restarting its quantitative easing programme, and will start buying Euro 20 billion of bonds each month from the start of November.

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