ECB imposes negative interest rate on deposits to encourage lending
Thursday, June 5, 2014 - 10:40
in Earth & Climate
Ananth BaligaFRANKFURT, Germany, June 5 (UPI) -- The ECB took the unprecedented step of cutting its interest rate to 0.1 percent and cut its interest on deposits to negative 0.1 percent for the first time.