ECB cuts rates by 25bp
Eurosystem disinflation “well on track” and council “did not discuss” TPI, says Lagarde
The European Central Bank has cut rates by 25 basis points.
The new rates, which the ECB announced today (December 12), will be 3.15% on the main refinancing operations, 3% on the lending facility and 3.4% for the marginal lending facility. The rates will come into force from December 13.
The ECB’s president Christine Lagarde said that although there had been calls to “possibly discuss” a 50bp cut, all the central bank governors in the Eurosystem had eventually rallied to the 25bp option. When
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