ECB cuts interest rates to historic 0%

Bank slashes rates across board and expands bond purchases

10th March, 2016
4
Draghi slashes rates to new low

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 10 basis points to minus 0.4 per cent, and its benchmark rate to zero.

Bond purchases were raised to €80 billion a month, starting in April,...

Subscribe from just €1 for the first month!

Currency

What's Included

With any subscription you will have access to

  • 971569B3-2C5E-4C45-B798-CEADE16987A8

    Unlimited multi-device access to our iPad, iPhone and Android Apps

  • 099C8662-C57C-42F2-9426-F2F90DF17C8F

    Unlimited access to our eReader library

  • 198AE43B-B9CF-4892-8769-D63C2104BA08

    Exclusive daily insight and opinion seven days a week

  • D8F37B78-25E4-4E4A-A376-4F5789B1564A

    Create alerts to never miss a subject that matters to you

  • B15F2521-37CD-4E02-B898-730A20D39F7F

    Get access to exclusive offers for subscribers on gifts and experiences

  • A564FE02-1AB8-4579-AF9D-BA32A2E5ACA7

    Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine

Share this post

Related Stories

Nadine O’Regan: The reality of vaccinated people is not mine

Emer McLysaght: Words of wisdom from a misguided geography nerd

Ian Guider: G7 edict is a chance for Ireland to change course and develop some global champions of our own

Companies Ian Guider 3 days ago

Elaine Byrne: The West’s ‘vaccine nationalism’ is an arrogant and dangerous game