7 Nov 2013
ECB cuts interest rates
FXstreet.com (Córdoba) - The European Central Bank decided to cut the main refinancing operations rate to a fresh record low and the lending facility rate Thursday, as some analysts had forecasted after inflation figures came in much lower than expected last week.
The ECB Governing Council cut the interest rate on the main refinancing operations by 25 basis point to 0.25%. The bank also cut the deposit facility rate by 25 basis points to 0.75% while the deposit rate remained unchanged at 0.00%. The ECB had kept the main interest rate unchanged since May.
Attention now turns to ECB President, Mario Draghi, who will comment on the considerations underlying surprising decisions at a press conference starting at 13:30GMT.
The ECB Governing Council cut the interest rate on the main refinancing operations by 25 basis point to 0.25%. The bank also cut the deposit facility rate by 25 basis points to 0.75% while the deposit rate remained unchanged at 0.00%. The ECB had kept the main interest rate unchanged since May.
Attention now turns to ECB President, Mario Draghi, who will comment on the considerations underlying surprising decisions at a press conference starting at 13:30GMT.