Featured Stories World News Commentary Money Watch Multimedia Prison Planet U.S. News Science And Technology

Mario Draghi sparks currency turmoil after stepping up ECB stimulus plan

  • Print The Alex Jones Channel Alex Jones Show podcast Prison Planet TV Infowars.com Twitter Alex Jones' Facebook Infowars store

Russell Lynch
London Independent
March 11, 2016

The European Central Bank’s president, Mario Draghi, fired off a salvo of measures yesterday aimed at strengthening the eurozone’s tepid recovery – but ended up shooting down his own “bazooka” by triggering turmoil in currency markets.

The ECB’s broader than expected package included upping the size of its monthly €60bn (£47bn) money-printing programme by €20bn, and expanding the scope of the scheme beyond government bonds to other assets.

The central bank also cut its main interest rate to zero and lowered its deposit rate even further into negative territory at minus 0.4 per cent, in effect charging banks more to hold deposits with it. Four long-term loan schemes were also announced, with banks given incentives to boost credit growth with cheaper rates.

Mr Draghi is bidding to lift the inflation rate – currently minus 0.2 per cent – and growth, which was just 0.3 per cent in the latest quarter.

Read more

This article was posted: Friday, March 11, 2016 at 8:47 am

Infowars.com Videos:

Comment on this article

Comments are closed.

Watch the News

CREEPY UNCLE JOE See the rest on the Alex Jones YouTube channel.

The Truth About Soy Boys See the rest on the Alex Jones YouTube channel.

https://www.youtube.com/embed/KQ-YjGmpO4Q https://www.youtube.com/embed/FTSvLKY7HEk

© 2017 PrisonPlanet.com is a Free Speech Systems, LLC company. All rights reserved. Digital Millennium Copyright Act Notice.