{"id":624,"date":"2015-12-03T15:19:47","date_gmt":"2015-12-03T13:19:47","guid":{"rendered":"http:\/\/bestinsurance.gr\/a1\/?p=624"},"modified":"2015-12-03T15:19:47","modified_gmt":"2015-12-03T13:19:47","slug":"following-epic-ft-snafu-ecb-cuts-deposit-rate-by-10bps-to-0-30-as-expected","status":"publish","type":"post","link":"https:\/\/bestinsurance.gr\/a1\/archives\/624","title":{"rendered":"Following Epic FT Snafu, ECB Cuts Deposit Rate By 10bps To -0.30% As Expected"},"content":{"rendered":"<div data-animation=\"no-animation\" data-icons-animation=\"no-animation\" data-overlay=\"\" data-change-size=\"\" data-button-size=\"0.7\" style=\"font-size:0.7em!important;display:none;\" class=\"supsystic-social-sharing supsystic-social-sharing-package-flat supsystic-social-sharing-content supsystic-social-sharing-content-align-left\" data-text=\"\"><a data-networks=\"[]\" class=\"social-sharing-button sharer-flat sharer-flat-1 counter-arrowed facebook\" target=\"_blank\" title=\"Facebook\" href=\"http:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fbestinsurance.gr%2Fa1%2Farchives%2F624\" data-main-href=\"http:\/\/www.facebook.com\/sharer.php?u={url}\" data-nid=\"1\" data-name=\"\" data-pid=\"1\" data-post-id=\"624\" data-url=\"https:\/\/bestinsurance.gr\/a1\/wp-admin\/admin-ajax.php\" rel=\"nofollow\" data-mailto=\"\"><i class=\"fa-ssbs fa-ssbs-fw fa-ssbs-facebook\"><\/i><div class=\"counter-wrap arrowed\"><span class=\"counter\">0<\/span><\/div><\/a><a data-networks=\"[]\" class=\"social-sharing-button sharer-flat sharer-flat-1 counter-arrowed twitter\" target=\"_blank\" title=\"Twitter\" href=\"https:\/\/twitter.com\/share?url=https%3A%2F%2Fbestinsurance.gr%2Fa1%2Farchives%2F624&text=Following+Epic+FT+Snafu%2C+ECB+Cuts+Deposit+Rate+By+10bps+To+-0.30%25+As+Expected\" data-main-href=\"https:\/\/twitter.com\/share?url={url}&text={title}\" data-nid=\"2\" data-name=\"\" data-pid=\"1\" data-post-id=\"624\" data-url=\"https:\/\/bestinsurance.gr\/a1\/wp-admin\/admin-ajax.php\" rel=\"nofollow\" data-mailto=\"\"><i class=\"fa-ssbs fa-ssbs-fw fa-ssbs-twitter\"><\/i><div class=\"counter-wrap arrowed\"><span class=\"counter\">0<\/span><\/div><\/a><\/div><p>Following Epic FT Snafu, ECB Cuts Deposit Rate By 10bps To -0.30% As Expected.In what may have been the most shocking ECB announcement in recent history, moments ago the ECB cut its deposits rate by 10 bps to -0.30%, just as expected.<\/p>\n<p>From the <a href=\"https:\/\/www.ecb.europa.eu\/press\/pr\/date\/2015\/html\/pr151203.en.html\">ECB press release<\/a>:<\/p>\n<blockquote>\n<div class=\"quote_start\"><\/div>\n<div class=\"quote_end\"><\/div>\n<p><strong>At today\u2019s meeting the Governing Council of the ECB decided that the interest rate on the deposit facility will be decreased by 10 basis points to -0.30%, with effect from 9 December 2015.<\/strong><\/p>\n<p>The interest rate on the main refinancing operations and the interest rate on the marginal lending facility will remain unchanged at 0.05% and 0.30% respectively.<\/p>\n<p>Further monetary policy measures will be communicated by the President of the ECB at a press conference starting at 14:30 CET today.<\/p><\/blockquote>\n<p>But while the rate cut was not unexpected, <strong>and was very much in line with consensus<\/strong>, what<strong><em>shocked <\/em><\/strong>the markets is that precisely 9 minutes before the ECB&#8217;s official announcement, the<a href=\"http:\/\/www.ft.com\/intl\/cms\/s\/0\/7e95a234-99b7-11e5-987b-d6cdef1b205c.html\">Financial Times<\/a>, now owned by the Nikkei, reported that instead of a rate cut, the ECB had left its rate unchanged:<\/p>\n<blockquote>\n<div class=\"quote_start\"><\/div>\n<div class=\"quote_end\"><\/div>\n<p><strong>Policymakers on the governing council left the deposit rate, which applies to a portion of banks\u2019 reserves parked at central banks across the currency area, at minus 0.2 per cent.<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p>Markets had priced in a cut of between 0.1 and 0.2 percentage points.<\/p>\n<p>&nbsp;<\/p>\n<p>The main refinancing rate remained at 0.05 per cent.<\/p>\n<p>Read more:<a href=\"http:\/\/www.zerohedge.com\/news\/2015-12-03\/following-epic-ft-snafu-ecb-cuts-deposit-rate-10bps-030-expected\" target=\"_blank\">link<\/a><\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<div data-animation=\"no-animation\" data-icons-animation=\"no-animation\" data-overlay=\"\" data-change-size=\"\" data-button-size=\"0.7\" style=\"font-size:0.7em!important;display:none;\" class=\"supsystic-social-sharing supsystic-social-sharing-package-flat supsystic-social-sharing-content supsystic-social-sharing-content-align-left\" data-text=\"\"><a data-networks=\"[]\" class=\"social-sharing-button sharer-flat sharer-flat-1 counter-arrowed facebook\" target=\"_blank\" title=\"Facebook\" href=\"http:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fbestinsurance.gr%2Fa1%2Farchives%2F624\" data-main-href=\"http:\/\/www.facebook.com\/sharer.php?u={url}\" data-nid=\"1\" data-name=\"\" data-pid=\"1\" data-post-id=\"624\" data-url=\"https:\/\/bestinsurance.gr\/a1\/wp-admin\/admin-ajax.php\" rel=\"nofollow\" data-mailto=\"\"><i class=\"fa-ssbs fa-ssbs-fw fa-ssbs-facebook\"><\/i><div class=\"counter-wrap arrowed\"><span class=\"counter\">0<\/span><\/div><\/a><a data-networks=\"[]\" class=\"social-sharing-button sharer-flat sharer-flat-1 counter-arrowed twitter\" target=\"_blank\" title=\"Twitter\" href=\"https:\/\/twitter.com\/share?url=https%3A%2F%2Fbestinsurance.gr%2Fa1%2Farchives%2F624&text=Following+Epic+FT+Snafu%2C+ECB+Cuts+Deposit+Rate+By+10bps+To+-0.30%25+As+Expected\" data-main-href=\"https:\/\/twitter.com\/share?url={url}&text={title}\" data-nid=\"2\" data-name=\"\" data-pid=\"1\" data-post-id=\"624\" data-url=\"https:\/\/bestinsurance.gr\/a1\/wp-admin\/admin-ajax.php\" rel=\"nofollow\" data-mailto=\"\"><i class=\"fa-ssbs fa-ssbs-fw fa-ssbs-twitter\"><\/i><div class=\"counter-wrap arrowed\"><span class=\"counter\">0<\/span><\/div><\/a><\/div><p>Following Epic FT Snafu, ECB Cuts Deposit Rate By 10bps To -0.30% As Expected.In what may have been the most shocking ECB announcement in recent history, moments ago the ECB cut its deposits rate by 10 bps to -0.30%, just as expected. From the ECB press release: At today\u2019s meeting the Governing Council of the<\/p>\n","protected":false},"author":1,"featured_media":625,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[],"class_list":["post-624","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-1"],"jetpack_publicize_connections":[],"_links":{"self":[{"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/posts\/624","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/comments?post=624"}],"version-history":[{"count":3,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/posts\/624\/revisions"}],"predecessor-version":[{"id":628,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/posts\/624\/revisions\/628"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/media\/625"}],"wp:attachment":[{"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/media?parent=624"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/categories?post=624"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/tags?post=624"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}