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ECB Cuts Interest Rate, to Unveil More Stimulus

The European Central Bank cut one of its key interest rates and promised to unveil more stimulus measures on Thursday in an attempt to boost lending and help the growth in the 19-country eurozone economy. The bank said it is reducing the interest rate on deposits from commercial banks from minus 0.2 percent to minus 0.3 percent. The negative rate is intended to push banks to lend excess cash by imposing a penalty for leaving it at the central bank. The size of the cut,...

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