ECB Cuts Deposit Rate, Draghi To Announce Further Measures

The European Central Bank on Thursday further cut its deposit rate into negative territory. The ECB dropped the deposit rate on money parked at the central bank overnight to minus 0.3% from minus 0.2%. The ECB left its key lending rate unchanged at 0.05% and the rate on its marginal lending facility at 0.3%. ECB President Mario Draghi will announce further monetary stimulus measures when he holds his news conference at 8:30 a.m. Eastern, the central bank said.