On wall street and all around the globe. The dow rose almost 100 points, closing at a fresh record of 16,836. The nasdaq gained 45 points, and the s p 500 added 12. 5 points to the new record of 1940. Jeff cutmore is in frankfurt, germany, and has more on those moves by draghi. Reporter what we saw today was classic draghi at the ecb. A little bit of jam today and a lot of jam tomorrow. So lets talk about the details today. The key moves were in the interest rates. That ultimately now sees a negative deposit rate here in europe. The other big announcement was related to what they call ltros. These are longerterm funding programs. Its a way of squeezing money into the banks to try to encourage them to lend into the real economy. And credit expansion is the real issue when it comes to europe at the moment. So those were the two major points. The jam tomorrow really relates to fullblown qe, or some kind of bondbuying program. Mr. Draghi didnt have much new news on that. He effectively sai
That led to market rallies here on wall street and all around the globe. The dow rose almost 100 points, closing at a fresh record of 16,836. The nasdaq gained 45 points, and the s p 500 added 12. 5 points to the new record of 1940. Jeff cutmore is in frankfurt, germany, and has more on those moves by draghi. Reporter what we saw today was classic draghi at the ecb. A little bit of jam today and a lot of jam tomorrow. So lets talk about the details today. The key moves were in the interest rates. That ultimately now sees a negative deposit rate here in europe. The other big announcement was related to what they call ltros. These are longerterm funding programs. Its a way of squeezing money into the banks to try to encourage them to lend into the real economy. And credit expansion is the real issue when it comes to europe at the moment. So those were the two major points. The jam tomorrow really relates to fullblown qe, or some kind of bondbuying program. Mr. Draghi didnt have much new
That led to market rallies here on wall street and all around the globe. The dow rose almost 100 points, closing at a fresh record of 16,836. The nasdaq gained 45 points, and the s p 500 added 12. 5 points to the new record of 1940. Jeff cutmore is in frankfurt, germany, and has more on those moves by draghi. Reporter what we saw today was classic draghi at the ecb. A little bit of jam today and a lot of jam tomorrow. So lets talk about the details today. The key moves were in the interest rates. That ultimately now sees a negative deposit rate here in europe. The other big announcement was related to what they call ltros. These are longerterm funding programs. Its a way of squeezing money into the banks to try to encourage them to lend into the real economy. And credit expansion is the real issue when it comes to europe at the moment. So those were the two major points. The jam tomorrow really relates to fullblown qe, or some kind of bondbuying program. Mr. Draghi didnt have much new