Displaying items by tag: ecb

The ECB earlier cut its main interest rate to 0.15% and imposed negative interest rates on banks' overnight deposit to cajole banks into lending more.

ECB head, Mario Draghi, is expected this coming Thursday to reduce the rate at which commercial banks borrow from by 0.10% (from0.25% to 0.15%) in order to encourage business lending.

The European Central Bank is ready to take action next month to boost eurozone economy if price inflation forecasts warrant it, its president said, announcing interest rate stable at 0.25%.