ECB aims to push up inflation and prop up economic activity
The European Central Bank (ECB) has reduced main refinancing rate by 10 basis points (bps) to 0.05% at its meeting on 04 September 2014 with a view to push up inflation and fight economic weakness.The interest rate on the main refinancing operations of the Eurosystem will be reduced by 10 bps to 0.05% starting from the operation to be settled on 10 September 2014.
The interest rate on the marginal lending facility is also reduced by 10 basis points to 0.30%, with effect from 10 September 2014.
The interest rate on the deposit facility will be cut by 10 basis points to -0.20%, with effect from 10 September 2014.
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