Dubai – Mubasher: European stock markets kicked off lower in Friday's early trading, thus continuing their slump after they shut Thursday with record declines following the European Central Bank (ECB) meeting.
In a meeting held Thursday, ECB cut the deposit rate from -0.2% to -0.3%. The ‘main refinancing rate’ -- the headline cost of borrowing, basically - is stuck at its record low of 0.05%. The third rate is the ‘marginal lending facility’ remains at 0.3%
ECB President Mario Draghi has announced new stimulus measures in an effort to boost the flagging Eurozone economy.
UK's FTSE Index lost 0.45%, while Germany's DAX was down 0.22% and France's CAC sagged 0.41%.
