Central Banks
ECB Cuts for Third Straight Time to Prop Up Flagging Economy
- Deposit rate lowered to 3% from 3.25%, as analysts expected
- Investors, economists anticipate spate of reductions in 2025
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The European Central Bank lowered interest rates for a third consecutive meeting, signaling more reductions next year as inflation nears 2% and the economy struggles.
The deposit rate was cut by a quarter-point to 3% — as predicted by all but one analyst in a Bloomberg survey. That brings total easing since June to 100 basis points.