Unlike last month, there were no changes to other interest rates, such as the marginal lending facility and deposit facility.
In the United States, physicians working in the Navajo Area India Health Services referred to "the poor local school system" and "marginal housing facilities" as reasons why they might leave their positions [ 108].
At today's meeting the Governing Council of the ECB decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.75%, 1.50% and 0.00% respectively.
The ECB also reduced the interest rate on its deposit facility to 0.5percentt and the rate on the marginal lending facility to 2.0percentt.
The drop in the marginal standing facility's rate is expected to infuse liquidity into the banking system and make more credit available to the beleaguered industrial sector.
Further borrowing by commercial banks comes from the so-called marginal standing facility, whose interest rate was cut on Friday to 9.5 percent, from 10.25 percent.
The reduction of the marginal standing facility by 0.75 percentage point "is encouraging, as this is working as the short-term interest rate," said Chandrajit Banerjee, director general of the Confederation of Indian Industry.
Because the cost of borrowing for banks to make additional loans is essentially the interest rate on the marginal standing facility, that rate tends to have a greater effect on the interest rates that banks charge customers for loans.
The interest on the marginal standing facility is the cost for banks to make additional loans and therefore has a greater effect on the banks' lending rates to customers.
With the rupee now stable, the central bank lowered the rate on the marginal standing facility, which is essentially the cost of borrowing for lenders, by a quarter of a percentage point, to 8.75 percent.
