ADVERTISEMENT The European Central Bank cut its key deposit rate on Thursday by 25 basis points to 2%, its lowest level in more than two years. The interest rates on its main refinancing operations and the marginal lending facility will also be lowered to 2.15% and 2.40% respectively, with effect from 11 June 2025. The interest rate on the main refinancing operations is the rate banks pay when they borrow money from the ECB for one week, while the marginal lending facility is the rate banks pay