Euro jumps as scale of ECB's deposit-rate cut disappoints bears

London

THE euro climbed the most in seven weeks against the dollar after the European Central Bank cut the deposit rate to minus 0.3 per cent, disappointing some market predictions of a deeper reduction.

Attention now turns to ECB president Mario Draghi's press conference at 2.30 pm in Frankfurt, and to whether he will unveil an anticipated boost to the bank's quantitative-easing programme.