ECB Cuts Rates 25 Bps; Main Refi Rate at 1.00%

The European Central Bank announced that its Governing Council cut interest rates 25 basis points at its latest monetary policy meeting Thursday.

The minimum bid rate on variable-rate refinancing operations was dropped to 1.00% from 1.25%, the marginal lending rate was cut to 1.75% from 2.00% and the deposit rate was slashed to 0.25% from 0.50%. —

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