Research Team at Deutsche Bank, presents a recap of the ECB policy moves announced yesterday. Key Quotes "1.) The interest rate on the main refinancing operations of the Eurosystem will be decreased by 5bps to 0.00%. 2.) The interest rate on the marginal lending facility will be decreased by 5bps to 0.25%. 3.) The interest rate on the deposit facility will be decreased by 10bps to - 0.40%. 4.) The monthly purchases under the asset purchase programme will be expanded to €80bn starting in April. 5.) Investment grade euro-denominated bonds issued by non-bank corporations established in the Euro area will be included in the list of assets that are eligible for regular purchases. 6.) A new series of four targeted longer-term refinancing operations (TLTRO II), each with a maturity of four years, will be launched, starting in June 2016. Borrowing conditions in these operations can be as low as the interest rate on the deposit facility." For more information, read our latest forex news.