PRESS RELEASE

Monetary policy decisions

6 November 2008

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

  1. The minimum bid rate on the main refinancing operations of the Eurosystem will be decreased by 50 basis points to 3.25%, starting from the operation to be settled on 12 November 2008.
  2. The interest rate on the marginal lending facility will be decreased by 50 basis points to 3.75%, with effect from 12 November 2008.
  3. The interest rate on the deposit facility will be decreased by 50 basis points to 2.75%, with effect from 12 November 2008.

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

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