Monday July 13, 2020

Draghi has one last run at reviving euro economy

The ECB’s announcement of a new stimulus package is a remarkable turn of events, just nine months after it signalled it was finished with ever-looser policy

13th September, 2019
ECB chief Mario Draghi. Pic: Getty

The European Central Bank has cut interest rates further below zero and will start open-ended bond purchases as its president Mario Draghi overcame critics of his stimulus policies to make a final run at reflating the eurozone economy.

It will buy debt at a pace of €20 billion a month starting on November 1. The main refinance rate - which influences tracker mortgages - stays at zero per cent.

The dovish policy shift weighed on the...

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