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ECB cuts rate for 3rd straight time as inflation nears 2%
December 13, 2024
|Financial Express Hyderabad
THE EUROPEAN CENTRAL Bank lowered interest rates for a third consecutive meeting, signaling more reductions next year as inflation nears 2% and the economy struggles.
The deposit rate was cut by a quarter-point to 3%—as predicted by all but one analyst in a Bloomberg survey. That brings total easing since June to 100 basis points.
Indicating its shifting stance, the ECB's statement dropped wording saying policy will remain "sufficiently restrictive" for as long as necessary.
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