Be the first to comment!European Central Bank cuts the interest rate to 1.25%
 Email item
|  Print item
|
|
At today’s meeting the Governing Council of the ECB took the following monetary policy decisions:
The interest rate on the main refinancing operations of the Eurosystem will be decreased by 25 basis points to 1.25%, starting from the operation to be settled on 9 November 2011.
The interest rate on the marginal lending facility will be decreased by 25 basis points to 2.00%, with effect from 9 November 2011.
The interest rate on the deposit facility will be decreased by 25 basis points to 0.50%, with effect from 9 November 2011.
The ECB President, said of the decision, that the “growth in the eurozone was likely to remain weak and that Europe’s financial crisis and the slowdown in global growth, meant the euro area faced an environment of high uncertainty.”
