Reported about 1 month ago
The European Central Bank (ECB) has lowered interest rates by 25 basis points for the third time in 2024, marking the first consecutive cuts in 13 years. The new deposit rate is set at 3.25%, responding to a weakening growth outlook and declining inflation, which fell to 1.7% in September. As a result, the ECB faces increasing pressure to maintain price stability amidst projections of a recession in Germany, the largest economy in Europe.
Source: YAHOO