ECB Cuts Interest Rates Again
CryptoNewsTerminal Staff06 Jun, 2024
ECB Cuts Interest Rates Again
The European Central Bank has lowered its key interest rate by 0.25%, taking it to 4.25%. This marks the first cut in interest rates since 2009. The move was in line with market expectations, and comes on the back of a period of weak economic data. The ECB's decision was widely expected by economists, who have been anticipating a decline in rates for some time. The eurozone economy has been struggling in recent months, with growth slowing and unemployment rising. The ECB's rate cut is intended to stimulate economic growth and help bring down unemployment. ```
