News In Brief

Ticker

ECB cuts interest rate to 0.15%

05.06.14 @ 13:59

  1. By EUOBSERVER

The European Central Bank on Thursday cut its main interest rate 0.25 percent to 0.15 percent. It also cut its deposit rate to -0.1 percent in a bid to encourage eurozone banks to increase lending to businesses. The move essentially means it would charge banks money to deposit with it.