ECB announces a cut in the interest rates down to 1.00%

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ECB announces a cut in the interest rates down to 1.00%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 1.00%, starting from the operation to be settled on 14 December 2011.

The interest rate on the marginal lending facility will be decreased by 25 basis points to 1.75%, with effect from 14 December 2011.

The interest rate on the deposit facility will be decreased by 25 basis points to 0.25%, with effect from 14 December 2011.

The Bank of England’s monetary policy committee also kept interest rates the same at 0.5%.

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