European Central Bank (ECB), which serves as a central bank for European Union countries that use the Euro, lowered the cost of borrowing once again. During a meeting on Thursday, the ECB made a decision to cut the rates to three key interest rates by 25 basis points.

Amazon Will Require Workers to Return to Office for 5 Days a Week

9 hours ago

This represents the third interest rate cut in 2024, which brought the ECB’s key deposit rate to 3.25%. The central bank cut rates by 25 basis points in June, followed by another 25 basis points cut in September. The most recent cut marks the first time that the ECB lowered its borrowing rate in back-to-back meetings since 2011.

ECB Considering Interest Rate Cut to Drive Global Monetary Easing

7 hours ago

According to ECB officials, the decision to cut the rates by a further 25 basis points was prompted by “an updated assessment of the inflation outlook, the dynamics of underlying inflation, and the strength of monetary policy transmission. “

Boeing Close to Reaching a Funding Agreement With Struggling Supplier Spirit AeroSystems

3 hours ago

ECB’s Governing Council predicts that inflation is expected to rise in the following months before “declining to target in the course of next year.”

The major drivers behind the ECB’s decision are slow economic activity and weaker spending.

Commerzbank Incoming CEO Meets With UniCredit Amid Possible Takeover

16 hours ago

“The incoming information suggests that economic activity has been somewhat weaker than expected,” ECB president Christine Lagarde said during a press conference.

Dolce & Gabbana Would Be Open to Consider IPO in the Future

18 hours ago

Lagarde added that she and her colleagues are not committing to any particular path when it comes to future policy decisions, while experts predict that the ECB is aiming towards a key deposit rate of 2% at some point.