Interest rates in Europe could sink even further into negative territory over the next few months, the European Central Bank (ECB) confirmed yesterday, as it said that it would keep all options on the table in its fight to stave off deflation in the Eurozone.
Minutes from last month’s monetary policy meeting, where ECB president Mario Draghi announced a cut in the central bank’s deposit rate – the amount it pays, or charges, banks to lodge their cash with the ECB overnight – from minus 0.3 to minus 0.4 per cent, confirmed that the ECB did “not rule out the possibility and prospect of further cuts”.
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