EFTA Document EFTA01388576

The limits of monetary policy 4. Policy challenges ahead Eurozone: Following the latest meeting of the Governing Council of the ECB, the ECB announced on March 10th that it would reduce its deposit rate (on money deposited by Eurozone banks by 10 bps to minus 0.4%. Its other key rates were cut by 5 bps, with ono on the main refinancing operations (MRO) now at 0% and on marginal lending facility at 0.25%. As many market participants had hoped, it also expanded GE, increasing the monthly p