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Traders: What We Want From The ECB
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The ECB is expected to keep its main interest rate at a record low when it meets today. But what's left in its armoury?
To stimulate growth the ECB has already cut its benchmark interest rate to a record low.
So when Mario Draghi says he’s ready to help – what can he do?
Three options: cut the refinancing rate further, cut the banking deposit rate or there's the option of a funding for lending scheme similar to the UK.
And that’s what makes this week’s meeting all the more unpredictable.