European Central Bank lowers deposit interest rate to support the Eurozone

The European Central Bank (ECB) on Thursday decided to lower the interest rate of deposit facility by 10 basis points to minus 0.3 percent.

The interest rate on the main refinancing operations and the interest rate on the marginal lending facility will remain unchanged at 0.05 percent and 0.3 percent respectively.

The ECB decided to extend the asset purchase program.

The program was intended to last at least until September 2016.

Mario Draghi, president of the ECB, said the monthly purchases of 60 billion euros under the program are now intended to run until the end of March 2017.

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