ECB cuts rates and sets up ‘task force' seeking to promote SME lending

draghi-ecb2

The European Central Bank's (ECB) governing council today cut its benchmark refinancing interest rate by 25 basis points to 0.50%, and said it had started consultations with the European Commission and the European Investment Bank on new measures to promote business lending in the eurozone.

ECB president Mario Draghi said the eurozone's main refinancing operations (MROs) will continue through until the middle of next year – as will the Eurosystem's special-term refinancing operations, and its

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