Following this review, the Governing Council decided to maintain the interest rate on the main refinancing operations of the Eurosystem at 3.5% and to keep the interest rates on the marginal lending facility and on the deposit facility at 4.5% and 2.5% respectively.
Allow me to give you an overview of the main elements of our assessment of the latest information on monetary, financial market and other economic developments. Let me start with information in relation to the first pillar of our monetary policy strategy.