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Will Draghi's Swan Song Revive the Eurozone? And Gold?
Amid the continued shortfall of inflation, the ECB cut its deposit rate by 10 basis points from -0.40 to -0.50. Yes, you read it correctly, from negative 0.40 to negative 0.50. The subzero madness has deepened in the Eurozone. What is more, the central bank announced that the ultralow interest rates would remain until inflation reaches the target: The interest rate on the deposit facility will be decreased by 10 basis points to -0.50% (...) The Governing Council now expects the key ECB interest rates to remain at their present or lower levels until it has seen the inflation outlook robustly converge to a level ... (full story)