The news so eagerly awaited by the markets in recent weeks has finally arrived: the European Central Bank decided today to cut the Eurozone's key rate again.
The reduction established by the Governing Council of Frankfurt, today away in Bratislava, is equal to 25 basis points as usual and allows the figure to drop to 0,5%. This is the new all-time low. The rate on the ECB's marginal refinancing operations fell instead by half a point, to 1%, while the rate on deposits, already at 0,00%, remained unchanged.
The Stock Exchange, which was negative this morning, achieved a substantial recovery in the early afternoon.
The last cut dates back to July last year, when the Eurotower decided to drop the rate from 1% to 0,75%.
Meanwhile, today the new five-euro banknote makes its debut, the first of the new "Europe" series which will lead to a complete renewal of the banknotes in circulation in the currency union.
The new ticket will be distributed through traditional channels, i.e. bank branches and ATMs, and will circulate in parallel with the old 5 euro banknotes, which will have full legal value without a deadline and will be gradually withdrawn.
