Beijing time on November 7 evening news, the European Central Bank announced that eurozone benchmark interest rate (main refinancing operations rate) decrease by 25 basis points to 0.25 percent.
The ECB cut interest rates was unexpected, according to a Bloomberg News survey, after only a few (less than 4%) Market participants expect this.
The following is the statement of ECB: ECB At today’s meeting, the Board made the following decisions:
Euro system’s main refinancing operations rate decrease by 25 basis points to 0.25 percent, begins to take effect from 13 November 2013 settlement operation.
Marginal lending rate decrease by 25 basis points to 0.75%, also effect from November 13.
Marginal deposit rates still remain unchanged at 0.00%.