FRANKFURT, June 5 (Xinhua) -- The European Central Bank (ECB) on Thursday made another rate cut of 25 basis points and revised its inflation forecast down in its latest staff projection.
The rate on the deposit facility has been brought down to two percent and the rates on the main refinancing operations and the marginal lending facility have been cut down to 2.15 percent and 2.4 percent respectively.
"Most measures of underlying inflation suggest that inflation will settle at around the Governing Council's 2 percent medium-term target on a sustained basis," said the ECB in a statement. ■
