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1st LD: ECB cuts benchmark interest rate to record low of zero percent

Xinhua, March 10, 2016 Adjust font size:

The Governing Council of the European Central Bank decided to cut the main refinancing operations rate for the euro area by 5 basis points to record low of zero percent on Thursday.

The interest rate on the marginal lending facility will be decreased by 5 basis points to 0.25 percent and the interest rate on the deposit facility will be decreased by 10 basis points to minus 0.40 percent, with effect from March 16, 2016. Enditem