Saturday , April 1 2023

Interest ECB on lowest level ever

In a press release the ECB bank published:
7 November 2013 – Monetary policy decisions
At today’s meeting the Governing Council of the ECB took the following monetary policy decisions:
1.    The interest rate on the main refinancing operations of the Eurosystem will be decreased by 25 basis points to 0.25%, starting from the operation to be settled on 13 November 2013.
2.    The interest rate on the marginal lending facility will be decreased by 25 basis points to 0.75%, with effect from 13 November 2013.
3.    The interest rate on the deposit facility will remain unchanged at 0.00%.
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.
Source: European Central Bank
Comments red:
ECB-president Dragh explained that this measure has been taken becaus inflation will remain low for a longer period. The measure is meant to stimulate the economy because it will become easier to lend money.
The inflation in the Netherland was in october at its lowest level ever (1,6%) which appeared from the figures of the Dutch  Centraal Bureau Statistiek (CBS), also published today the 7th of November. That percentage is also the lowest since 3 years. Three months ago the inflation was still 2,4 percent.

Public Island Council meeting postponed till Monday, November 11
Lions Club and Lions brewed some Halloween fun