ECB Cuts Interest Rates By 75 BPs; Key Rate 2.5%

The European Central Bank yesterday announced that its Governing Council cut interest rates by 75 basis points at its latest monetary policy meeting.

The minimum bid rate on variable-rate refinancing operations is at 2.50%, the marginal lending rate is now 3.00%, and the deposit rate — the floor for euro money market rates — is at 2.00%.

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