ECB Unexpectedly Cuts Key Interest Rate From 0.5% To 0.25%, A Record Low In Bid To Stanch Emerging Deflation getdiscountz.blogspot.com

getdiscountz.blogspot.com ® ECB Unexpectedly Cuts Key Interest Rate From 0.5% To 0.25%, A Record Low In Bid To Stanch Emerging Deflation

The European Central Bank on Thursday slashed its main refinancing rate by 0.25 percentage points to a record low of 0.25 percent, surprising economists who expected the central bank to hold rates steady at 0.5 percent.

The move is seen as an attempt by the ECB to stanch deflation and help stimulate the continent's economic activity.

ECB President Mario Draghi's monthly news conference is set to begin at 8:30 a.m. Eastern Time.

ECB Unexpectedly Cuts Key Interest Rate From 0.5% To 0.25%, A Record Low In Bid To Stanch Emerging Deflation