S&P 500   3,004.52 (+0.28%)
DOW   26,833.95 (+0.17%)
QQQ   192.22 (+0.19%)
AAPL   243.18 (+1.34%)
FB   186.19 (+2.11%)
MSFT   137.24 (+0.64%)
GOOGL   1,257.63 (+1.32%)
AMZN   1,762.17 (-0.20%)
CGC   21.75 (+2.84%)
NVDA   195.09 (-0.27%)
MU   44.66 (+0.00%)
BABA   169.92 (+0.02%)
GE   9.14 (+0.88%)
TSLA   254.68 (-0.35%)
AMD   31.36 (-0.48%)
T   37.74 (-1.13%)
F   9.21 (+1.54%)
ACB   3.67 (+2.51%)
NFLX   271.27 (+1.72%)
BAC   31.42 (+0.71%)
GILD   66.58 (+1.09%)
S&P 500   3,004.52 (+0.28%)
DOW   26,833.95 (+0.17%)
QQQ   192.22 (+0.19%)
AAPL   243.18 (+1.34%)
FB   186.19 (+2.11%)
MSFT   137.24 (+0.64%)
GOOGL   1,257.63 (+1.32%)
AMZN   1,762.17 (-0.20%)
CGC   21.75 (+2.84%)
NVDA   195.09 (-0.27%)
MU   44.66 (+0.00%)
BABA   169.92 (+0.02%)
GE   9.14 (+0.88%)
TSLA   254.68 (-0.35%)
AMD   31.36 (-0.48%)
T   37.74 (-1.13%)
F   9.21 (+1.54%)
ACB   3.67 (+2.51%)
NFLX   271.27 (+1.72%)
BAC   31.42 (+0.71%)
GILD   66.58 (+1.09%)
Log in

European Central Bank unveils new help for economy

Posted on Thursday, September 12th, 2019 By The Associated Press

FRANKFURT, Germany (AP) — The European Central Bank is launching a new round of monetary stimulus to support economic growth in the face of uncertainties like the U.S.-China trade conflict and Brexit.

The central bank for the 19 countries that use the euro said Thursday it would cut the rate on deposits it takes from banks to minus 0.5% from minus 0.4%. That is a penalty rate that pushes banks to lend excess cash.

It also said it would purchase 20 billion euros ($22 billion) a month in government and corporate bonds for as long as necessary. The purchases pump newly created money into the financial system to lower borrowing costs and raise inflation.

The bank also extended a promise to keep rates at record lows for as long as necessary.

Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.

Yahoo Gemini Pixel