With Germany on the brink of a recession and inflation tumbling across the 20-member single currency bloc, the ECB followed a reduction in the cost of borrowing at its previous meeting in September with a further 0.25 percentage point cut in its key deposit rate to 3.25%.
Marking the third interest rate cut this year, Christine Lagarde, the ECB's president, said the fall in inflation had surprised the central bank and meant a cut was needed to ensure a soft landing for the eurozone economy.
Figures out earlier yesterday revealed that annual prices growth in the eurozone had eased last month to 1.7%, down from 2.2% in August. Lagarde said there were clear signs from most measures of business and consumer activity that the economy was weakening.
Bu hikaye The Guardian dergisinin October 18, 2024 sayısından alınmıştır.
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Bu hikaye The Guardian dergisinin October 18, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
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