10 Mar 2016
ECB cuts refi rate, Deposit rate, expands QE and announces TLTROs
The European Central Bank (ECB) surprised markets by announcing a 5 basis point cut in the main Refi rate, which now stands at 0.0%.
The deposit rate was cut by 10 basis points to -0.40% as expected and the monthly asset purchase program was expanded to EUR 80 billion from the previous figure of EUR 60 billion.
The bank also said it shall new launch 4 new TLTROs of 4-year maturity and said investment grade bonds by non bank corp will be included in list of assets.
The deposit rate was cut by 10 basis points to -0.40% as expected and the monthly asset purchase program was expanded to EUR 80 billion from the previous figure of EUR 60 billion.
The bank also said it shall new launch 4 new TLTROs of 4-year maturity and said investment grade bonds by non bank corp will be included in list of assets.