On 6 June 2024 the Governing Council decided to lower the three key ECB interest rates by 25 basis points. After almost nine months, where these rates remained steady, the interest rates on the main refinancing operations will be decreased to 4,25%, on the marginal lending facility to 4,50% and on the deposit facility to 3,75%, with the effective date being the 12th of June 2024.

It remains to be seen how and whether interest rates at a national level will be affected.

For the monetary policy decision of the Governing Council of the 6th of June 2024, you can visit the link below:
https://www.ecb.europa.eu/press/pr/date/2024/html/ecb.mp240606~2148ecdb3c.en.html

Rafaella Georgiou
Advocate/Partner