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The central bank also will cut the rediscount rate to 5%, after lowering it to 6% from 7% on March 26, and the overnight interest rate in the country's interbank market to 8% from 9%.

In a move defying the loose monetary policy dominating other European central banks, the 10-strong panel raised the benchmark seven-day intervention rate to 4.75%, the rediscount rate to 5.00%, the Lombard rate to 6.25% and the ...

The last time the Fed maintained such prolonged monetary support for the economy was from 1937 to 1947 when it kept its “rediscount rate,” or the discount it applied to commercial banks borrowing cash against high quality promissory notes they had issued, at 1 percent.

Investors piled into currencies seen as safe-havens after China increased its rediscount rate by 0.45 percentage points to 2.25% and raised interest rates over the holiday period ...

To boost the rediscount rate now would cost the Treasury millions in added interest.