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Sep 12, 2019

Central Banks: European Central Bank cuts its deposit rate, launches new bond-buying program

Elliot Smith

RT: Mario Draghi 190307
Mario Draghi, President of the European central Bank (ECB) attends a news conference on the outcome of the Governing Council meeting at the ECB headquarters in Frankfurt, Germany, March 7, 2019.
Kai Pfaffenbach | Reuters
Markets had widely expected some form of stimulus package, though hawks within the European Central Bank (ECB) Governing Council had moved in recent weeks to downplay the scale of the impending measures.
A slowing euro zone economy, persistent low inflation and the U.S.-China trade war had all pointed toward the central bank being forced to inject stimulus.
Recent economic data has not been promising, though the latest Purchasing Managers’ Indexes (PMIs) had indicated some stability despite enduring industrial weakness.

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