PRESS RELEASE

Monetary policy decisions

3 February 2000

At today's meeting the Governing Council of the ECB took the following monetary policy decisions:

  1. The interest rate on the main refinancing operations of the Eurosystem will be raised by 0.25 percentage point to 3.25%, starting from the operation to be settled on 9 February 2000.

  2. The interest rate on the marginal lending facility will be raised by 0.25 percentage point to 4.25%, with effect of 4 February 2000.

  3. The interest rate on the deposit facility will be raised by 0.25 percentage point to 2.25%, with effect of 4 February 2000.

The President of the ECB will comment on the considerations underlying these decisions at a press conference starting at 2.30 p.m. today.

Media contacts