2015-10-23 — theguardian.com
Mario Draghi, the president of the European Central Bank, has stunned markets by signalling that he is prepared to cut interest rates and step up quantitative easing to stave off the risk of a renewed economic slump in the eurozone... The value of the euro dropped sharply on foreign exchanges on Thursday as Draghi announced that the ECB's governing council had discussed expanding its €1.1tn (£795bn) bond-buying programme and cutting the rate on reserves held at the central bank. This "discount rate" is already negative, at -0.2%, meaning banks effectively have to pay the ECB for holding their reserves -- a measure aimed at keeping money flowing around the economy.,,,
"The ECB will almost certainly be delivering an early Christmas present this year," said Nick Kounis, the head of markets and macro research at investment bank ABN Amro.''
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