Mario Draghi's speech on rate cut: full text

The following is the full text of the statement read out by the European Central Bank President Mario Draghi on the ECB's decision to cut interest rates today.

7th November, 2013
Mario Draghi

The following is the full text of the statement read out by the European Central Bank President Mario Draghi on the ECB's decision to cut interest rates today (with key passages highlighted by us).

First, based on our regular economic and monetary analyses, we decided to lower the interest rate on the main refinancing operations of the Eurosystem by 25 basis points to 0.25% and the rate on the marginal lending facility by 25 basis points to 0.75%.

The...

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