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June 6, 2014

European Central Bank Cuts Bank Deposit Rate to Below Zero 
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The European Central Bank has taken steps to boost the economy,
including cutting its bank deposit rate to below zero. The move seeks to
spur lending by effectively charging banks for storing money. Inflation
across the Eurozone fell just 0.5 percent last month, far below the
bank's target, and unemployment remains more than 25 percent in Spain
and Greece.

 

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