ECB Cuts Its Deposit Rate to Minus 0.3% as Boost to QE Awaited

December 3, 2015 1:00 PM

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The European Central Bank cut its deposit rate, pushing the floor for borrowing costs deeper below zero as officials seek to prevent too-low inflation from becoming entrenched.

The 25-member Governing Council, meeting in Frankfurt on Thursday, reduced the rate by 10 basis points to minus 0.3 percent. That’s in line with the move forecast by economists in a Bloomberg survey. Policy makers left the main refinancing rate and the marginal lending rate unchanged. President Mari...

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