ECB cuts rate by 75 basis point.

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PRESS RELEASE
4 December 2008 - Monetary policy decisions

At today’s meeting, which was held in Brussels, the Governing Council of the ECB took the following monetary policy decisions:

1. The interest rate on the main refinancing operations of the Eurosystem will be decreased by 75 basis points to 2.50%, starting from the operation to be settled on 10 December 2008.

2. The interest rate on the marginal lending facility will be decreased by 75 basis points to 3.00%, with effect from 10 December 2008.

3. The interest rate on the deposit facility will be decreased by 75 basis points to 2.00%, with effect from 10 December 2008.

Source ECB.

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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