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From the Guardian:

ECB imposes negative rates on banks, and cuts benchmark interest rate to 0.15%

Breaking: The European Central Bank has cut the refinancing rate, the headline interest rate across the eurozone, to 0.15% from 0.25%.

And it has also taken the historic decision to impose negative interest rates on the region's banks, to -0.1% from 0.0%

If this is all, it will not do much. We will drop towards all-out deflation in a few month.

by rz on Thu Jun 5th, 2014 at 07:49:53 AM EST

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