YEREVAN, April 4. / ARKA /. The European Central Bank’s Governing Council decided at its monthly monetary policy meeting Thursday to leave its key refinancing rate unchanged at 0.75%, RIA Novosti reported.
The decision to leave borrowing costs at their historic low for the eighth month in a row following last July’s 25-basis-point cut was expected by a large majority of observers.
The ECB today also left unchanged its deposit rate, which is the floor for euro money market rates, and the marginal lending rate, which is the ceiling. Following July’s decision to cut them both by 25 basis points, the deposit rate is now at 0% and the marginal lending rate is at 1.50%. -0-
