ECB Eases Benchmark Rate from 1.25% to 1.00%
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US futures moved modestly higher just ahead of 8am ET following some monetary easing from the ECB. Dow Jones futures are now up about 20, compared to up about 8 points ahead of the announcement.
From the ECB website:
At today’s meeting the Governing Council of the ECB took the following monetary policy decisions:
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.
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.
From the ECB website:
At today’s meeting the Governing Council of the ECB took the following monetary policy decisions:
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.
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.
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