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ECB cuts refi rate to record low 0.75% *(XEU) *PIC*

ECB cuts refi rate to record low 0.75% (by William L. Watts)

FRANKFURT (MarketWatch) -- The European Central Bank on Thursday cut its benchmark lending rate by a quarter of a percentage point to a record low 0.75%, as expected. The central bank lowered the deposit rate on money parked by banks at the ECB overnight to 0% from 0.25%, while the rate on its marginal lending facility was lowered to 1.5% from 1.75%. ECB President Mario Draghi is scheduled to hold his monthly news conference at 2:30 p.m. Frankfurt time, or 8:30 a.m. Eastern.

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ECB cuts refi rate to record low 0.75% *(XEU) *PIC*
Draghi sees More Downside Risk for Europe Growth