European Central Bank Institutes Negative Interest Rate

European Central Bank Institutes Negative Interest Rate
The European Central Bank has just reduced interest rates and installed a negative rate on bank deposits for the first time in its history. The bank cut its main lending rate to 0.15%, a new low, from the 0.25% rate held since November, and lowered its rate on emergency overnight loans by 35 basis points to 0.40%. This is an extremely dangerous move…

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