ECB approved a fresh stimulus package
The European Central Bank approved a fresh stimulus package on Thursday. It cut its deposit rate to a record low -0.5% from -0.4% and will restart bond purchases (printing money) of €20bn a month from November. It also eased the terms of its long term loans to banks. With inflation falling, Germany skirting a recession and a global trade war sapping domestic confidence, the ECB is trying to stimulate economic growth. Cheap loans will keep inflating asset prices, including real estate prices in Slovakia, and will punish savers.
