Bank’s president stuns markets with announcement,saying slowdown in emerging markets has weakened eurozone Mario Draghi, the president of the European Central Bank, and has stunned markets by signalling that he is prepared to gash interest rates and step up quantitative easing to stave off the risk of a renewed economic slump in the eurozone.The value of the single currency dropped sharply on foreign exchanges on Thursday as Draghi announced that the ECB’s governing council had discussed expanding its €1.1tn (£795bn) bond-buying programme and cutting the rate on reserves held at the central bank. Related: Germany readies itself for more woe as scandal and slowdown hit economy Continue reading...
Source: theguardian.com