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ECB Expands Stimulus, Leaves Room to Do More

QE program extended, deposit rate cut to negative 0.3 percent.

By Jeff Black and Maria Tadeo, Bloomberg | Updated on December 03, 2015

The European Central Bank (ECB) unveiled a package of measures to tackle too-low inflation, from a cut in the floor for interest rates to an expansion of its bond-buying program by at least 360 billion euros (US$390 billion). Investors were unimpressed.

The Frankfurt-based ECB will extend quantitative easing (QE) by six months, until at least March 2017, at the current rate of 60 billion euros a month, and will broaden the assets purchased to include local and regional debt, ECB President Mario Draghi said on Thursday. The Governing Council earlier reduced its deposit rate by 10 basis points, to minus 0.3 percent.

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