EURO DROPS AFTER ECB ANNOUNCES SURPRISE RATE CUT
Sep 4, 2014, 17:21 IST
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The euro just dropped to $$1.3047, its lowest level since July 2013.
Today's ECB moves included lowering the main refinancing rate to 0.05% from 0.15%, lowering the marginal lending factility rate to 0.3% from 0.4%, and lowering the deposit facility rate to -0.2% from -0.1%. All of these moves have the intended affect of keeping short-term interest rates very low.