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Friday, 05 September 2014 - 13:29
ECB cuts rates and launches stimulus programme
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The European Central Bank has cut its benchmark interest rate to 0.05%, and introduced new stimulus measures.

The ECB had earlier cut its rate from 0.25% to 0.15% in June, and also became the first major central bank to introduce negative interest rates.

It will also launch an asset purchase programme, which will buy debt products from banks.

It is hoped this move will add liquidity to the financial system and revive lending.
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