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


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  • Eric Dor

    (IESEG School of Management (LEM-CNRS))

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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.

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Bibliographic Info

Paper provided by IESEG School of Management in its series Working Papers with number 2013-ECO-05.

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Length: 4 pages
Date of creation: May 2013
Date of revision:
Handle: RePEc:ies:wpaper:e201305

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