European Central Bank Cuts Key Interest Rate by 25 Basis Points
CryptoNewsTerminal Staff12 Sep, 2024
European Central Bank Cuts Key Interest Rate by 25 Basis Points
The European Central Bank (ECB) has delivered another rate cut, continuing its commitment to combating inflation and supporting the eurozone economy. As anticipated, the central bank has reduced its key interest rate by 25 basis points, bringing it down to 3.50%. This marks the lowest level for interest rates since June 2023. The ECB's decision aligns with ongoing economic concerns and rising inflation rates. The latest move aims to boost economic growth and alleviate financial burdens for borrowers, including businesses and consumers. By lowering interest rates, the ECB encourages borrowing and spending, stimulating economic activity. This decision underscores the ECB's ongoing efforts to balance inflation control with economic growth promotion. With inflation remaining elevated, the ECB faces the challenge of calibrating its policy response to effectively address the current economic climate.
