European Central Bank via flickr
The ECB announced that the deposit rate has been reduced by 25 basis points to 3.5%, according to a statement.
In March, the regulator stated that the gap between the main refinancing operations (MRO) rate and the deposit rate would narrow to 15 bps, down from the previous 50 bps, while the gap between the marginal lending rate and the deposit rate would decrease to 40 bps from 75 bps.
The specified adjustments will be implemented on September 18, with the main refinancing operations rate decreasing to 3.65% and the margin loans rate dropping to 3.9%.
The decisions matched with what analysts predicted.
The regulator added that they will keep observing incoming statistical data and decide on rates at each meeting independently. They also stated that the ECB has no set plan for future rate levels.
source: ecb.europa.eu
In March, the regulator stated that the gap between the main refinancing operations (MRO) rate and the deposit rate would narrow to 15 bps, down from the previous 50 bps, while the gap between the marginal lending rate and the deposit rate would decrease to 40 bps from 75 bps.
The specified adjustments will be implemented on September 18, with the main refinancing operations rate decreasing to 3.65% and the margin loans rate dropping to 3.9%.
The decisions matched with what analysts predicted.
The regulator added that they will keep observing incoming statistical data and decide on rates at each meeting independently. They also stated that the ECB has no set plan for future rate levels.
source: ecb.europa.eu