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ECB announces plans to stimulate slowing economy

ECB President Mario Draghi. Photo: Frederick Florin/AFP/Getty Images

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.