Monetary policy decisions
At today's meeting the Governing Council of the ECB took the following monetary policy decisions:
- The interest rate on the main refinancing operations will be reduced by 0.5 percentage point to 2.5%, starting with the operation to be settled on 14 April 1999.
- The interest rate on the marginal lending facility will be reduced by 1 percentage point to 3.5%, effective 9 April 1999.
- The interest rate on the deposit facility will be reduced by 0.5 percentage point to 1.5%, effective 9 April 1999.
A statement providing the reasons for these decisions will be made by the President of the ECB at a press conference following the conclusion of the Governing Council meeting later today.