Euro tumbles as ECB cuts rate and announces asset purchases

Anna Fedorova
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The European Central Bank has cut its headline interest rate by ten basis points to 0.05%, prompting the euro to slump against the dollar, and said it will begin a long-awaited asset purchase programme in the coming months.

ECB president Mario Draghi (pictured) announced a surprise decision to cut both the main refinancing rate as well as the deposit rate, which has also been reduced by ten basis points to -0.2%. T...

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