Sluggish growth outlook forces ECB to take drastic action


The European Central Bank's Governing Council on Thursday cut its benchmark interest rate by 25 basis points to 1% and introduced measures to enhance bank lending and liquidity in the euro area money market, in a desperate effort to prevent the eurozone economy from falling into recession.

Speaking at a press conference in Frankfurt, Mario Draghi, the president of the ECB, said the outlook for the euro area economy remained subject to "high uncertainty and substantial downside risks".

He said a

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here:

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: