And just like the BoE – no surprises from the European Central Bank (ECB):
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The interest rate on the main refinancing operations of the Eurosystem will be decreased by 25 basis points to 1.00%, starting from the operation to be settled on 14 December 2011.
The interest rate on the marginal lending facility will be decreased by 25 basis points to 1.75%, with effect from 14 December 2011.
The interest rate on the deposit facility will be decreased by 25 basis points to 0.25%, with effect from 14 December 2011.
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Check out some of the previous Euromoney Skew coverage on the BoE and ECB:
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Bank of England should buy UK bank bonds
If the Bank of England wants to help bring down UK banks’ funding costs so as to ease credit to the economy, maybe it should start buying UK bank bonds.
Click here for the full story
How ECB quantitative easing might work
One answer might be for the European Central Bank to begin quantitative easing in the name of monetary policy transmission to stave off deflation, rather than of capping government bond yields or anything else that smacks of financing governments
Click here for the full story
Confidence plummets in UK financial system
Bank of England (BoE) delivers worrying results from its Systemic Risk Survey.
Click here for the full story
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– Euromoney Skew Blog
