The European Central Bank has introduced a raft of measures aimed at stimulating the eurozone economy, including negative interest rates and cheap long-term loans to banks.
It cut its deposit rate for banks from zero to -0.1%, to encourage banks to lend to businesses rather than hold on to money.
The ECB also cut its benchmark interest rate to 0.15% from 0.25%.
The ECB is the first major central bank to introduce negative interest rates.
Howard Archer, chief UK and European economist at IHS Global Insight said: “Despite being widely anticipated and in some quarters criticised for occurring too late, it is still a bold and unusual move by the ECB to take its deposit rate into negative territory.”
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