Reduction in Bank of Greece interest rates
12/12/2000 - Press Releases
The Monetary Policy Council of the Bank of Greece, after taking into
consideration:
- the required full convergence of Bank of Greece interest rates with the corresponding
rates of the European Central Bank, in view of Greece's entry into the euro area on 1
January 2001,
has decided the following:
- the intervention rate on the 14-day main refinancing operations of the Bank of Greece is
reduced to 5.75 per cent from 6.5 per cent;
- the interest rate on the marginal lending facility against collateral of government
securities (Lombard rate) is reduced to 6.50 per cent from 7.25 per cent;
- the interest rate on the overnight deposit facility is reduced to 4.75 per cent from 5.5
per cent.
The new interest rates shall be effective from Wednesday, 13 December
2000.