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ECB Monetary policy decisions
The Governing Council today decided to lower the three key ECB interest rates by 25 basis points. In particular, the decision to lower the deposit facility rate – the rate through which the Governing Council steers the monetary policy stance – is based on its updated assessment of the inflation outlook, the dynamics of underlying inflation and the strength of monetary policy transmission. The disinflation process is well on track. Staff see headline inflation averaging 2.4% in 2024, 2.1% in 2025, 1.9% in 2026 and 2.1% in 2027 when the expanded EU Emissions Trading System becomes operational. For inflation ... (full story)
ECB: STAFF SEE HEADLINE INFLATION AVERAGING 2.4% IN 2024, 2.1% IN 2025, 1.9% IN 2026 AND 2.1% IN 2027 WHEN THE EXPANDED EU EMISSIONS TRADING SYSTEM BECOMES OPERATIONAL.-
ECB cuts interest rates for fourth time this year
The European Central Bank cut interest rates for the fourth time this year on Thursday and kept the door open to further easing ahead as inflation closes in on its goal and the economy remains weak. The central bank for the 20 countries that share the euro reduced the rate it pays on bank deposits, which drives financing conditions in the bloc, to 3.0% from 3.25%. It was at a record 4.0% only in June. It also signalled that further cuts are possible by removing a reference to keeping rates "sufficiently restrictive", economic jargon for a level of borrowing costs that curbs economic growth. "Financing conditions are ... (full story)
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