| Mario Draghi finally announced his long awaited action plan to spur growth in the slumping Euro zone. The European Central Bank (ECB) cut its ultra-low interest rates even further and said that it will buy asset-backed securities and euro-denominated covered bonds from October to boost growth and inflation.
Among the latest measures, ECB cut its main refinancing rate to another historic low of 0.05% from 0.15% and drove the deposit rate paid by the ECB to banks for parking funds with it overnight further into negative territory at - 0.20% ..........................................Full Article: Source
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