# ECB takes the deposit rate negative

Date: 2014

On 5 June 2014 the ECB cut the deposit facility rate below zero. Banks and savers paid. Credit conditions eased. The cut is a completed monetary-policy act.

## People

- Mario Draghi: https://factrail.ai/people/mario-draghi

## Drivers

- Household Purchasing Power: https://factrail.ai/drivers/household-purchasing-power

## Sources

- https://www.reuters.com/article/us-ecb-policy-idUSKBN0EG0Q620140605/
- https://www.ecb.europa.eu/press/pr/date/2014/html/pr140605.en.html

## Methodology

https://factrail.ai/methodology

Canonical: https://factrail.ai/facts/ecb-negative-rates-2014