ECB cuts key rate, to restart bond purchases

The European Central Bank approved a fresh stimulus package as expected on Thurs...

FILE PHOTO: Mario Draghi, President of the European Central Bank , attends a news conference in Vilnius, Lithuania June 6, 2019. REUTERS/Ints Kalnins/File Photo

The ECB cut its deposit rate to a record low -0.5% from -0.4% and will restart bond purchases of 20 billion euros a month from November, it said in a statement. “The Governing Council expects to run for as long as necessary to reinforce the accommodative impact of its policy rates, and to end shortly before it starts raising the key ECB interest rates,” the ECB said in a regular policy statement.

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