ECB cuts key rate to fight deflation | Bangkok Post: business

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ECB cuts key rate to fight deflation

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The European Central Bank (ECB) on Thursday entered into unchartered territory in its battle against deflation, taking one of its key interest rates into negative territory for the first time. 

President of the European Central Bank (ECB) Mario Draghi addresses a press conference following the meeting of the Governing Council in Brussels on May 8, 2014. (AFP photo)

The ECB said in a statement that it is lowering all three of its key interest rates, which have been on hold at record lows all this year.

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