European Central Bank cuts interest rates

The Governing Council of the European Central Bank has decreased the interest rate on the main refinancing operations of the Eurosystem by 25 basis points to 1.25%, starting from the operation to be settled on 9 November 2011.

The interest rate on the marginal lending facility will be decreased by 25 basis points to 2.00%, while the interest rate on the deposit facility will be decreased by 25 basis points to 0.50%, with effect from 9 November 2011.