21 February 2005

1.    At its meeting on 21 February 2005, the Monetary Council considered the latest economic and financial developments and decided to reduce the central bank base rate by 75 basis points, from 9.00% to 8.25%, with effect from 22 February 2005.

The Council is releasing a separate press statement on its decision.

The minutes of the Council meeting will be published at 2 p.m. on 19 March 2005.

2.    At its meeting, the Council also discussed the February 2005 issue of the Quarterly Report on Inflation, to be published simultaneously with the press release on today’s interest rate decision.


Monetary Council