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  • European Central Bank cuts its deposit rate, launches new bond-buying program

    From cnbc.com

    The European Central Bank (ECB) announced a massive new bond-buying program Thursday in a bid to stimulate the ailing euro zone economy. President Mario Draghi announced that the central bank would cut its main deposit rate by 10 basis points to -0.5%, in line with expectations. The ECB now expects interest rates to remain at their present or lower levels until it has seen inflation outlook “robustly converge to a level sufficiently close to but below 2% within its projection horizon, and such convergence has been persistent.” The ECB has also changed its TLTRO rate to provide more favorable bank lending ... (full story)

Another QE galore!!
Lost....
He is making the Eurozone and the savers bankrupt just so governments and his friends could pay less to borrow.

I wish people in politics were accountable for their action.
Protecting Bank capital while encouraging lending to further transmission of monetary policy until at or near Robustly ( for a continued time) 2% inflation.

Whole proposal hinges on whether or not ECB can get the Lending going again enough to grow GDP.
Been a failure so far so lets do more. Markets would be expected to rally on another dose of risk but will real economy?
Finally!
Its continuation of free money, why do we even have them, that is another point. I guess bet on EU index. Its the third economy to go into the negative interest rate.
Quoting AiWoZhongHua
He is making the Eurozone and the savers bankrupt just so governments and his friends could pay less to borrow. I wish people in politics were accountable for their action.
They are SUPPOSED to be accountable to those who elect them.

That is why there should be tests to determine if a person(s) should be able to vote. It wont happen but it should - too many uneducated people keep re-electing corrupt politicians who keep giving the ignorant more 'things'
...because you never know - until you do!
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