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EU Monetary policy decisions
The Governing Council today decided to lower the three key ECB interest rates by 25 basis points. Based on an updated assessment of the inflation outlook, the dynamics of underlying inflation and the strength of monetary policy transmission, it is now appropriate to moderate the degree of monetary policy restriction after nine months of holding rates steady. Since the Governing Council meeting in September 2023, inflation has fallen by more than 2.5 percentage points and the inflation outlook has improved markedly. Underlying inflation has also eased, reinforcing the signs that price pressures have weakened, and ... (full story)
#ECB CUTS DEPOSIT FACILITY RATE BY 25BPS TO 3.75%; EST. 3.75% - BBG- ECB SAYS ECB WILL CONTINUE TO REINVEST, IN FULL, PRINCIPAL PAYMENTS FROM MATURING SECURITIES PURCHASED UNDER PEPP UNTIL END OF JUNE 2024 || ECB SAYS OVER SECOND HALF OF YEAR, IT WILL REDUCE PEPP PORTFOLIO BY €7.5 BILLION PER MONTH ON AVERAGE
ECB SAYS ECB INTENDS TO DISCONTINUE REINVESTMENTS UNDER PEPP AT END OF 2024 || ECB SAYS ECB WILL CONTINUE APPLYING FLEXIBILITY IN REINVESTING REDEMPTIONS COMING DUE IN PEPP PORTFOLIO, WITH A VIEW TO COUNTERING RISKS TO MONETARY POLICY TRANSMISSION MECHANISM RELATED TO PANDEMIC
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European Central Bank cuts main interest rate by 0.25 points
The European Central Bank has eased the pressure on borrowers across the eurozone after cutting its main interest rate for the first time in almost five years. The ECB reduced its deposit rate to 3.75% from a record high of 4%, putting it ahead of the US Federal Reserve and the Bank of England, which have yet to cut interest rates. Financial markets eagerly anticipated the first eurozone cut since September 2019, which will also affect the ECB’s main refinancing operations rate, which fell from 4.5% to 4.25%. City analysts had forecast the cut in borrowing costs at the ECB’s June meeting after signals that that ... (full story)
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