|Key figures at a glance|
|Marginal lending facility||0.30 %|
|Main refinancing operations (fixed rate)||0.05 %|
|Deposit facility||− 0.20 %|
|Effective from 10 September 2014|
|Why has the ECB introduced a negative interest rate?|
This piece looks at recent developments in Japan’s net exports: export growth has been modest and import growth relatively robust, despite the yen’s sharp fall. The full Economic Bulletin Issue 03/2015 will be published on Thursday, 30 April 2015 at 10:00 CET.