The European Central Bank cut its deposit rate, pushing the floor for borrowing costs deeper below zero as officials seek to prevent too-low inflation from becoming entrenched. The 25-member Governing Council, meeting in Frankfurt on Thursday, reduced the rate by 10 basis points to minus 0.3 percent. That’s in line with the move forecast by economists in a Bloomberg survey. Policy makers left the main refinancing rate and the marginal lending rate unchanged. President Mario Draghi will host a press conference at 2:30 p.m. local time to explain the decision. The ECB said he will announce further measures then. Follow ... (full story)