ECB cuts rates for first time since 2019 ...News

Russia Today - Economy

Inflation across the Eurozone is likely “to stay above the target well into next year,” the regulator has said The European Central Bank (ECB) has cut interest rates for the first time in nearly five years, acknowledging that the fight with inflation in the euro area is far from over. The Thursday rate cut by a quarter percentage point takes the benchmark rate in the 20 countries that use the euro down to 3.75% from an all-time high of 4%, where it had stood since September. The regulator did not indicate whether a further easing would follow in July. Eurozone inflation accelerated more than expected in May, to 2.

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Last updated : 06 June 2024 clock 11:08 PM

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ECB cuts rates for first time since 2019 ...News

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