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ECB cuts refi rate, Deposit rate, expands QE and announces TLTROs

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 10, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The European Central Bank (ECB) surprised markets by announcing a 5 basis point cut in the main Refi rate, which now stands at 0.0%.

    The deposit rate was cut by 10 basis points to -0.40% as expected and the monthly asset purchase program was expanded to EUR 80 billion from the previous figure of EUR 60 billion.

    The bank also said it shall new launch 4 new TLTROs of 4-year maturity and said investment grade bonds by non bank corp will be included in list of assets.
    For more information, read our latest forex news.
     

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