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ECB pushes rates more negative, plans lots more asset purchases
ECB Promises Stimulus Buys 'As Long As Necessary'
By Balazs Koranyi and Francesco Canepa
Reuters
Thursday, September 12, 2019
FRANKFURT, Germany -- The European Central Bank today promised an indefinite supply of fresh asset purchases and cut interest rates deeper into negative territory, an effort to prop up the ailing euro zone economy that was cheered by financial markets.
Coming in the final weeks of ECB President Mario Draghi's mandate, the moves will increase pressure on the U.S. Federal Reserve and Bank of Japan to ease next week to support a world economy increasingly characterized by low growth and protectionist threats to free trade.
... Dispatch continues below ...
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Yet there were immediate doubts as to whether the ECB measures -- the few remaining in its monetary policy arsenal -- would be enough to boost a euro zone recovery in the face of a U.S.-China trade war and possible disruption from Brexit.
The ECB cut its deposit rate by 10 basis points to a record low of -0.5%, promised that rates would stay low for longer, and said it would restart bond purchases at a rate of 20 billion euros a month from Nov. 1. ...
... For the remainder of the report:
https://www.reuters.com/article/us-ecb-policy/ecb-promises-stimulus-buys...
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