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ECB unveils QE, cuts deposit rates by 0.1%; deploys new stimulus to help economy

ECB unveils QE, cuts deposit rates by 0.1%; deploys new stimulus to help economy

The European Central Bank delivered a new blast of monetary stimulus Thursday to help the shaky economy in the face of uncertainties like the U.S.-China trade conflict and Brexit. In a wide-ranging package of measures that will ensure outgoing President Mario Draghi leaves his mark on ECB policies long after he departs next month, the bank cut one key interest rate further below zero. It trimmed the rate on deposits it takes from banks to minus 0.5% from minus 0.4%, a penalty that pushes banks to lend their excess cash.

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