Reported 27 days ago
The European Central Bank (ECB) has lowered interest rates to 3.5% for the second time in 2024, as it adjusts its economic growth forecasts for the eurozone. ECB President Christine Lagarde noted ongoing headwinds to economic recovery, driven by lower demand for exports and domestic consumption challenges. The bank now projects growth rates of 0.8% for 2024, slightly down from previous estimates, amid recent signs of cooling inflation. Analysts hope this rate cut will stimulate the economy, but further reductions depend on evolving economic conditions.
Source: YAHOO