Super Mario Enters With A Bang: ECB Cuts Rate By 25 bps To 1.25%

Tyler Durden's picture

The former Goldman banker cutting rates two days after his appointment? Stunning. Next up, we get to listen to an Italian accent instead of a French one for the first time in a decade, at the press conference to be held shortly. The EUR reaction is appropriate: completely schizophrenic.

PRESS RELEASE
3 November 2011 - Monetary policy decisions

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 President of the ECB will comment on the considerations underlying these decisions at a press conference starting at 2.30 p.m. CET today.

 

European Central Bank
Directorate Communications
Press and Information Division
Kaiserstrasse 29, D-60311 Frankfurt am Main
Tel.: +49 69 1344 7455, Fax: +49 69 1344 7404
Internet: http://www.ecb.europa.eu

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