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 conditions ... (full story)