The European Central Bank overnight deposit rate down to -0.1% bitcoin rapid response
Beijing time on June 5th evening news, the European Central Bank on Thursday announced a cut in interest rates, in order to promote the euro zone inflation and borrowing.
The Council of the European Central Bank cut its main refinancing rate to 0.15%, while the previous 0.25%. At the same time, cut the deposit rate to -0.1%, while the previous 0%. This will effectively promote banks to avoid excessive deposits at the European Central Bank, the formation of excess reserves.
The European Central Bank also cut the marginal lending facility to 0.40%, while the previous 0.75%. The European Central Bank President Delaki’s press conference will be held at 8:30 in the morning in the eastern United States time, this will be closely watched, because the European Central Bank will announce additional measures.
After this announcement, the euro / dollar short-term setback dollar from 1.3624 fell to 4 month low of 1.3556, up down 68 points.
Last November, the European Central Bank cut interest rates by 25 basis points, contrary to most market participants expected. 此后，欧洲央行已经连续6个月维持利率不变。
Delaki was in May after the rate decision said, “if necessary, action will be taken in June.” And today the central bank to cut interest rates also proved that the “super Mario” that is not nonsense.
It is worth noting that, after the news release gold immediately reflect this effect: 7:45 started, 48 minutes into the main section:
After about 10 minutes, or the main bitcoin:
This is bitcoin rare quick response signal of monetary policy that the world currency, bitcoin has been regarded as a hedge against inflation in assets, started by the attention of investors.
Comparison of the same time axis
Negative interest rates on ECB, although the money world has negative interest rates, but only secretly printing money, the nominal interest rate negative interest rates for the first time in a flagrant way. The original money in the bank is secretly diluted, now directly reduced, and this signal may have a profound impact on bitcoin.