ECB cuts interest rates to historic 0%

Bank slashes rates across board and expands bond purchases

Draghi slashes rates to new low
Hayes issues QE warning Pic: RollingNews.ie

The European Central Bank has cut all its interest rates and expanded its monthly bond purchases by a third – as President Mario Draghi strives to fend off the threat of euro-area deflation.

The 25-member Governing Council, meeting in Frankfurt today, cut the rate on cash parked overnight by banks by ...