ECB Launches Major Stimulus Package, Cuts Key Rate

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ECB Launches Major Stimulus Package, Cuts Key Rate
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ECB launches a sweeping stimulus package, with rate cuts and a large bond-buying program aimed at cushioning the eurozone from a global slowdown

FRANKFURT—The European Central Bank cut its key interest rate and launched a sweeping package of bond purchases Thursday, a pre-emptive move aimed at insulating the eurozone’s wobbling economy from a global slowdown and trade tensions.

It is the ECB’s largest dose of monetary stimulus in 3½ years and a bold finale for departing President Mario Draghi, whose policies helped steer the currency union out of its recent crises.

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