ECB Makes First Rate Cut Since 2019, Reducing Rates by 0.25%

The European Central Bank (ECB) has announced a decision to reduce its three benchmark interest rates by 0.25%. This marks the first cut in the reference rate in 8 years, with the last reduction occurring in March 2016 when rates were lowered to 0%. The ECB has also raised the cost of money on main refinancing operations, marginal refinancing operations, and deposits at the central bank to 4.25%, 4.50%, and 3.75% respectively.

According to ECB experts, economic growth is expected to increase to 0.9% in 2024, 1.4% in 2025, and 1.6% in 2026. In terms of inflation, overall inflation is estimated to average 2.5% in 2024, 2.2% in

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