ECB takes cautious stance as markets tumble

January 21, 2016 1:56 PM

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FRANKFURT The European Central Bank held interest rates at record lows on Thursday, but the market crash, tumbling bank stocks and ebbing inflation may set the stage for action later in the year.

In December, the Governing Council cut the deposit rate, increased the charge on banks for parking money at the ECB, and expanded its purchase program to buy chiefly government bonds.

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