ECB cuts rates by 25bp
Eurozone growth projections revised downwards as German economy slows
The European Central Bank (ECB) cut its policy rates by 25 basis points today (September 12).
The ECB’s governing council, comprising the governors of central banks in the Eurosystem, made the decision unanimously.
From September 18, the deposit facility rate will be 3.5%, the main refinancing rate will be 3.65% and the marginal lending facility rate will be 3.9%.
In March, the ECB had tightened the spread between the marginal lending facility and deposit facility rates.
The ECB’s next meeting will
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