ECB cuts rates to new record low and re-starts QE
Deposit rate decreased to –0.5% and open-ended asset purchases launched at €20 billion a month
The European Central Bank unveiled a new stimulus package today (September 12) that it says will remain active until inflation “robustly” converges with the policy target.
The ECB reduced the deposit rate by 10 basis points to a new record-low of –0.5%, the first rate reduction since March 2016. Additionally, the central bank will resume net asset purchases on November 1. These will amount to €20 billion ($22 billion) per month, and will remain active “for as long as necessary to reinforce the
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