Paul Taylor and Balazs Koranyi: ECB Rate Setters Converge on December Deposit Rate Cut

Here is the most interesting quotation from this Reuters article:

Another Governing Council member also argued for a bigger deposit rate cut, saying it could go from -0.20 percent to -0.50 percent or even -0.70 percent after the Danish and Swiss examples.

The rate setter said that “zero lower bound”, a term meaning the bottom for interest rates, either “no longer exists, or if it does it is well below zero”.