Current Affairs International - 10 March 2016

1. The legendary music producer George Henry Martin of famous Beatles brand passed away in England. He was 90. He was popularly known as the "Fifth Beatle" as he has signed the Beatles produced more than 700 records. He has also worked with others including Peter Sellers, Shirley Bassey, America, Cheap Trick, Jeff Beck and Celine Dion during his decade-s long career. He has won 6 Grammy Awards in various categories between years 1967 and 2007 and was named by the Guinness World Records as the most successful producer ever with more than 50 Numbers.

2. PricewaterhouseCoopers International Network has appointed Robert E Moritz as its Global Chairman for a four-year term effective from 1st July 2016. He succeeds Dennis Nally, who will retire this June after a 42-year career with PwC. Moritz has been with PwC since 1985 and became a partner in 1995.

3. The European Central Bank (ECB) has cut the interest rate today to boost liquidity and growth in the entire region and announced more stimulus measures. The ECB cut its key interest rate from existing 0.05% to 0% and cut its bank deposit rate, from (-) 0.3% to (-) 0.4%. The Central Bank has also expanded its quantitative easing program from 60 billion euro to 80 billion euro a month.

The bank now expected inflation to be just 0.1% this year much lower compared to earlier expectation of 1% but rejected possibility of deflation.