ECB : The minimum bid rate on the main refinancing operations of the Eurosystem will be decreased by 50 basis points to 3.25%

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At today’s meeting the Governing Council of the ECB took the following monetary policy decisions:

1. The minimum bid rate on the main refinancing operations of the Eurosystem will be decreased by 50 basis points to 3.25%, starting from the operation to be settled on 12 November 2008.
2. The interest rate on the marginal lending facility will be decreased by 50 basis points to 3.75%, with effect from 12 November 2008.
3. The interest rate on the deposit facility will be decreased by 50 basis points to 2.75%, with effect from 12 November 2008.

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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