By www.CentralBankNews.info The European Central Bank (ECB) cut its benchmark refinancing rate by 25 basis points to 0.25 percent, a move that was not widely expected.
The ECB, which last cut its rate in May, also cut the rate on its marginal lending facility by 25 points to 0.75 percent while the rate on its deposit facility would remain at 0.0 percent.
The ECB said in its brief statement that further details would be released at a news conference later today.