ECB keeps record-low interest rate unchanged

ECB keeps record-low interest rate unchanged
Mario Draghi

The European Central Bank (ECB) has kept its main interest rate unchanged at a record low of 0.05%.

Today’s decision was expected, mostly because the ECB said it has already lowered the benchmark refinancing rate about as low as it can go.

Markets are waiting for ECB President Mario Draghi’s news conference for hints about whether the bank will ramp up its stimulus measures.

The ECB has slashed interest rates, offered cheap loans to banks and started purchasing bonds based on bank loans. All those steps are aimed at increasing the flow of credit to companies.

The ECB has stopped short of large-scale bond purchases to pump newly-created money into the economy, as the US Federal Reserve has done.

More in this Section

Thomas Cook executives urged to hand bonuses to workers’ pension fundThomas Cook executives urged to hand bonuses to workers’ pension fund

Fund to drive SME and public sector collaborationFund to drive SME and public sector collaboration

Almost half of adults do not have a private pension - studyAlmost half of adults do not have a private pension - study

Facebook officially launches digital currency Libra despite defectionsFacebook officially launches digital currency Libra despite defections


Lifestyle

My sister Gabriella always says that during sibling whispers all I ever wanted was to be on stage.This Much I Know: Man of many talents Mike Hanrahan

Columnist and trained counsellor Fiona Caine offers guidance to a woman whose husband is controlling and belittling her.Ask a counsellor: ‘My husband is so controlling – what do I do?’

Peter Dowdall branches out to take a look at the mountain ash or rowan.Rowan berries show us how nature is stocking its larder for winter

Friends and Young Offenders actors Shane Casey and Dominic MacHale speak to Pat Fitzpatrick about struggling to make it but why they are not seeking out fame.‘I was down to a euro’ - Watch The Young Offenders actors tell of struggle to make it in acting

More From The Irish Examiner