ECB announces monetary policy decisions
The Governing Council of the European Central Bank (ECB), after its monetary policy meeting that took place today, has taken the following decisions:
- The interest rate on the main refinancing operations of the Eurosystem will be decreased by 10 basis points to 0.15%, starting from the operation to be settled on 11 June 2014.
- The interest rate on the marginal lending facility will be decreased by 35 basis points to 0.40%, with effect from 11 June 2014.
- The interest rate on the deposit facility will be decreased by 10 basis points to -0.10%, with effect from 11 June 2014. A separate press release to be published today will provide details on the implementation of the negative deposit facility rate.
The President of the ECB will comment on the considerations underlying these decisions at a press conference today. Further monetary policy measures to enhance the functioning of the monetary policy transmission mechanism will be communicated in forthcoming press releases.
Source: ECB
