By James D. Spellman, Principal, Strategic Communications, LLC
Telegraphing for months the likelihood of an unprecedented “pre-emptive” strike against deflation, the European Central Bank president today (June 5) finally announced one unorthodox step: widely anticipated “negative” interest rates to weaken the Euro. He also introduced targeted measures to boost cheap credit for small and medium-sized businesses, the EU’s locomotives for growth, pledging interest rates will remain low "possibly for longer than previously seen."