European Central Bank moves rates further into negative territory

Mario Draghi, in one of his last Central Bank meetings has today launched a new package of stimulus for the Eurozone economy in an attempt to restart economic growth and address sluggish inflation. Specifically, Draghi lowered the Eurozone interest rate further into negative territory to -0.5% from -0.4%. Alongside this the ECB restarted its asset purchasing programme which they had paused last December. Markets began buying European sovereign debt on the announcement whilst selling down the Euro much to the ire of President Trump who accused the ECB stimulus as a way of tactically devaluing their currency.