European Central Bank cut its interest rate to 0.00% in March

Market news

10 March 2016

European Central Bank cut its interest rate to 0.00% in March

The European Central Bank (ECB) cut its interest rate to 0.00% from 0.05% (this decision was not expected by market participants) and deposit rate to -0.4% from -0.3%.

The ECB also expanded its monthly purchases to €80 billion from €60 billion, to take effect in April. Purchases will include non-bank corporate debt.

The central bank will launch further four targeted longer-term refinancing operations (LTRO).

U.S.: Initial Jobless Claims, March 259 (forecast 275)

Foreign exchange market. European session: the euro traded lower against the U.S. dollar after the release of the ECB’s interest rate decision

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