Central Banks
ECB Cuts Rates for Fifth Time as Euro-Zone Economy Flatlines
- Deposit rate lowered by quarter-point to 2.75%, as expected
- Officials stick to meeting-by-meeting approach to set policy
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The European Central Bank lowered borrowing costs for a fifth time since June, with the region’s economy stalling and the 2% inflation target in reach.
Officials reduced the deposit rate by a quarter-point to 2.75% — as predicted by all analysts in a Bloomberg poll. They continued to describe their current monetary-policy stance as “restrictive,” signaling more loosening is in the pipeline, while reiterating that they’re not pre-committing to a particular rate path.