ECB cuts deposit rate, due to unveil further measures

December 3, 2015 12:19 PM

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ECB cuts deposit rate, due to unveil further measures

FRANKFURT The European Central Bank cut one of its interest rates and promised to unveil more policy measures on Thursday to fight stubbornly low inflation, testing the limits of monetary policy and hoping to bolster its credibility.

Making good on its promise to do what it must to boost inflation "as quickly as possible", the ECB lowered its deposit rate deeper into negative territory and said President Mario Draghi would announce further measures at his 1330 GMT news conference.

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