PRESS RELEASE

Monetary policy decisions

15 July 1999

At today's meeting the Governing Council of the ECB decided that the interest rates on the main refinancing operations, the marginal lending facility and the deposit facility will remain unchanged at 2.5%, 3.5% and 1.5% respectively.

The President of the ECB will comment on the considerations underlying these decisions at a press conference starting at 2 p.m. today.

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