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.
![Gold prices steady at 10-day high as rate cut bets grow](https://i-invdn-com.investing.com/news/LYNXNPEB7C067_S.jpg)
Add a Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.