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WFN QUICK BRIEF · UNDER 1 MIN
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The record
On 6 June 2024, the European Central Bank decided to reduce its three key rates by 25 basis points. The new rates took effect on 12 June: 4.25% for main refinancing operations, 4.50% for the marginal lending facility and 3.75% for the deposit facility. ECB monetary-policy decisions, 6 June 2024 ↗
WFN analysis
An event study needs the moment new information becomes public. A funding calculation needs the date a new rate begins to apply. Mixing those dates can shift an apparent market reaction into the wrong observation window.
Next check
For EUR analysis, compare the announcement with the relevant market-implied path and foreign policy expectations at the same time. Keep the effective date in funding records. When quoting a central-bank rate, name the facility: three different rates in one release do not create one universal borrowing cost for every market participant.
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MARKET CONTEXTWFN EDITION · 14 OCTOBER 2026
Editorial noteSource-based explanation with original WFN analysis. Historical records retain their dates. Original WFN editorial diagram; it is not a live market chart.
WFN REALITY LEDGER
What is on the record?
Primary-source analysis
Dated official record / historical or technical explainer
The cited record establishes the documented event. Proposals, technical announcements, allegations and orders retain their stated status; WFN Analysis is editorial interpretation.
The ECB announced a 25-basis-point cut on 6 June 2024, effective 12 June. The two dates answer different questions for FX analysis.
01 · VERIFIED RECORD
The verified record
On 6 June 2024, the European Central Bank decided to reduce its three key rates by 25 basis points. The new rates took effect on 12 June: 4.25% for main refinancing operations, 4.50% for the marginal lending facility and 3.75% for the deposit facility. ECB monetary-policy decisions, 6 June 2024 ↗
The decision also stressed a data-dependent, meeting-by-meeting approach. It did not commit the Governing Council to a particular future rate path. These figures describe the historical decision, not today’s rate settings.
02 · WFN EDITORIAL ANALYSIS
Why it matters
An event study needs the moment new information becomes public. A funding calculation needs the date a new rate begins to apply. Mixing those dates can shift an apparent market reaction into the wrong observation window.
The same distinction helps with expectations. An announced cut does not reveal how much of that cut investors had already anticipated. Without a contemporaneous expectations measure, a headline cannot establish the size of a policy surprise or explain a euro movement with confidence.
03 · WHAT TO CHECK NEXT
What to check next
For EUR analysis, compare the announcement with the relevant market-implied path and foreign policy expectations at the same time. Keep the effective date in funding records. When quoting a central-bank rate, name the facility: three different rates in one release do not create one universal borrowing cost for every market participant.
