ECB cuts deposit rate below zero in historic move

ECB cuts deposit rate below zero in historic move

The European Central Bank lowered its deposit rate to -0.10% as the continent battles deflation after many failed monetary policy attempts. The European Central Bank cut its main refinancing rate to 0.15 percent from 0.25 percent, and the deposit rate from zero to -.10 percent, the first time the ECB has seen a negative rate and the first time a major central bank has crossed the zero threshold.

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