ECB announces plans to stimulate slowing economy

The European Central Bank is launching measures to help revitalize the eurozone's slumping economy, including offering cheap long-term loans for banks and pushing its plans to raise interest rates farther out than it previously indicated.

Why it matters: Central banks around the world have turned dovish, but as the Wall Street Journal points out, the ECB is the first major bank to actually ease monetary policy — just a few months after it ended its multi-trillion dollar bond-buying program.