Post by sevenofnine on Sept 12, 2024 11:42:12 GMT -5
Just boost the EU ecoomy little a bit
The European Central Bank (ECB) cut interest rates by another 0.25 percentage points on Thursday.
The Frankfurt-based financial institution reduced its key deposit rate to 3.5%, as expected, providing further relief to eurozone households and businesses.
"Recent inflation data have come in broadly as expected," the ECB said in a statement.
But it warned the path ahead would not be smooth, saying that "inflation is expected to rise again in the latter part of this year, partly because previous sharp falls in energy prices will drop out of the annual rates."
After raising interest rates at a record pace since mid-2022 to combat rising consumer prices, the ECB has begun to ease pressure as inflation rates have fallen.
The bank already cut its deposit rate to 3.75% in June and then paused in July before taking a summer break in August.
Growth and inflation in
www.dw.com/en/ecb-cuts-interest-rates-by-quarter-point-to-35/a-70198081
The European Central Bank (ECB) cut interest rates by another 0.25 percentage points on Thursday.
The Frankfurt-based financial institution reduced its key deposit rate to 3.5%, as expected, providing further relief to eurozone households and businesses.
"Recent inflation data have come in broadly as expected," the ECB said in a statement.
But it warned the path ahead would not be smooth, saying that "inflation is expected to rise again in the latter part of this year, partly because previous sharp falls in energy prices will drop out of the annual rates."
After raising interest rates at a record pace since mid-2022 to combat rising consumer prices, the ECB has begun to ease pressure as inflation rates have fallen.
The bank already cut its deposit rate to 3.75% in June and then paused in July before taking a summer break in August.
Growth and inflation in
www.dw.com/en/ecb-cuts-interest-rates-by-quarter-point-to-35/a-70198081
!!
