ECB to keep rates unchanged at 0% for 2019 amid weakening economy
  • 5 years ago
The European Central Bank hinted it'll keep interest rates unchanged for the rest of the year... at zero-percent... which means local banks would have to pay to place money at the ECB.
The move comes amid growing worries about the weakening global economy.
Up until now, the Frankfurt institution had been saying the rates would stay unchanged until this summer... as Brexit uncertainties and trade tensions between China and U.S. have taken their toll on the eurozone economy.
The ECB also says it's providing ultra-cheap loans to banks through its targeted long-term refinancing operation... which starts this September and will run until March 2021.
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