The new decrease of interest rates by the ECB will be totally ineffective

Eric Dor (e.dor@ieseg.fr)

No 2013-ECO-05, Working Papers from IESEG School of Management

Abstract: On May 2 the ECB has decreased the interest rate on the main refinancing operations of the Eurosystem by 25 basis points, to 0.50%, starting from the operation to be settled on 8 May 2013. The interest rate on the marginal lending facility will also be decreased by 50 basis points, to 1.00%. This short paper explains the structural reasons why the current monetary policy conducted by the ECB is ineffective.

Pages: 4 pages
Date: 2013-05
New Economics Papers: this item is included in nep-mac and nep-mon
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