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ECB cuts interest rates, and other economics stories to read this week
The European Central Bank (ECB) has cut interest rates once again, lowering its deposit rate by 25 basis points. That brings the rate down to 3.5%, in a widely expected move amid slowing inflation and tepid economic growth. Rates had also been cut in June, but the bank offered no indications of what its next move would be. "The Governing Council will continue to follow a data-dependent and meeting-by-meeting approach to determining the appropriate level and duration of restriction," the ECB said in a statement. "The Governing Council is not pre-committing to a particular rate path." ECB President Christine Lagarde ... (full story)