Cut in overnight deposit rate paid to banks sees sharp drop in cash parked at ECB
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Cut in overnight deposit rate paid to banks sees sharp drop in cash parked at ECB

Frankfurt : Germany | Jul 12, 2012 at 2:29 AM PDT
Source: Fox News
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Germany   Banks have drastically cut the amount of money they hold overnight at the European Central Bank after it cut the interest rate on those deposits to zero in a push to get them lending more. The ECB cut its overnight deposit rate from 0.25 percent to zero last week. FULL ARTICLE AT Fox News
 
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