European Central Bank expected to push key interest rate below zero

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ECB Prepares to Launch Fresh Tools to Battle Low Inflation

By Szu Ping Chan
The Telegraph, London
Saturday, May 31, 2014

The European Central Bank is preparing to take monetary policy into uncharted territory this week as it fights to prevent the 18-nation bloc from being sucked into a Japanese-style deflationary trap.

Mario Draghi, the president of Europe's central bank, is expected to unveil a package of measures designed to boost eurozone lending and stimulate growth, including reducing one of its key interest rates below zero.

Analysts expect the ECB to introduce a negative deposit rate, meaning the central bank would charge lenders to hold money with it overnight. Such a measure has never been introduced by a major central bank, although Sweden and Denmark have set negative rates on reserves. ...

... For the full story:

http://www.telegraph.co.uk/finance/economics/10866802/ECB-prepares-to-la...



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