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Eurozone gets fresh help to bolster flagging growth
The European Central Bank has unveiled fresh stimulus measures to bolster the eurozone, including cutting a key interest rate. The deposit facility rate, paid by banks on reserves parked at the ECB, was already negative, but has now been cut from minus 0.4% to minus 0.5%. The ECB also said it was re-starting quantitative easing. It will buy €20bn of debt a month from 1 November. The eurozone's main interest rate has remained unchanged at zero. The moves come as the ECB combats an economic slowdown. The bank said its asset purchase programme would "run for as long as necessary", while interest rates would remain "at ... (full story)