The European Central Bank has cut its main interest rate used to set consumer loans in the Eurozone to 0.15%.
ITV News Business Editor Richard Edgar is following developments.
ECB cuts main rate (used to base consumer loans) to 0.15%
Meanwhile Eurozone banks will now have to face negative interest rates, meaning they have to pay 0.1% to deposit their own money.
European Central Bank takes rates for banks in the eurozone below zero: they have to PAY 0.1% to deposit cash, a bold experiment