Economic & Market Outlook – Focus Notes (Friday, December 04, 2015)
December ECB meeting: A less dovish than expected monetary stimulus package
In an effort to support euro area economic activity and address the risk of a too prolonged period of low inflation, the ECB Governing Council decided at its regular monetary policy meeting on Thursday 4 December to cut the interest rate on the deposit facility by 10 basis points to -0.30%, with effect from 9 December 2015. The interest rates on the main refinancing operations and on the marginal lending facility were left unchanged at 0.05% and 0.30%, respectively.
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