Jim O'Keeffe (Cork South West, Fine Gael)
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Question 134: To ask the Tánaiste and Minister for Finance his views on a reduction in interest rates by the European Central Bank; and if he will make a statement on the matter. [2285/08]

Brian Cowen (Laois-Offaly, Fianna Fail)
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The European Central Bank left interest rates unchanged for the seventh month in succession at their Governing Council meeting on 10th January. The determination of interest rate policy is solely a matter for the Governing Council of the European Central Bank, which is independent in these matters.