Euro dives as ECB unveils raft of easing measures

London

THE euro sank a full cent against the dollar on Thursday after the European Central Bank unveiled a raft of measures, many of them not expected by markets, to stimulate growth and inflation in the eurozone.

The ECB cut its marginal and refinancing rates as well as making a widely expected 10 basis point cut in deposit rates. It also expanded its programme of bond-buying to include corporate debt.