European Central Bank changed interest rate to 0.75%

Thursday, 5 July 2012 06:05

Benchmark refinancing rate was reduced by 25 points baseline to 0.75%.

Today’s reduction makes the key rate the lowest in history of ECB.
Analysts expected the ECB will lower the refinancing rate to this level.

The ECB also announced a reduction of 25 points deposit facility rate to 0.0% and lending rate to 1.5%.

Despite news of interest rate cut euro remained lower against USD, reaching only 1.2489.