ECB rate cut release - 4th December 2008

PRESS RELEASE
4 December 2008 - Monetary policy decisions
At today’s meeting, which was held in Brussels, the Governing Council of the ECB took the following monetary policy decisions:
1. The interest rate on the main refinancing operations of the Eurosystem will be decreased by 75 basis points to 2.50%, starting from the operation to be settled on 10 December 2008.
2. The interest rate on the marginal lending facility will be decreased by 75 basis points to 3.00%, with effect from 10 December 2008.
3. The interest rate on the deposit facility will be decreased by 75 basis points to 2.00%, with effect from 10 December 2008.
The President of the ECB will comment on the considerations underlying these decisions at a press conference starting at 2.30 p.m. CET today.
European Central BankDirectorate CommunicationsPress and Information DivisionKaiserstrasse 29, D-60311 Frankfurt am MainTel.: +49 69 1344 7455, Fax: +49 69 1344 7404Internet: http://www.ecb.europa.eu
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