European Central Bank cuts rates by 25 bps for 3rd time this year
Mansi Agarwal, Published on Oct 17th, 2024
European Central Bank on Thursday lowered three key interest rates by 25 basis points as inflation in the eurozone is cooling faster than expected. The key deposit rate was reduced to 3.25%. This was the third rate cut by the bank this year, with the first one being in June when the rates were lowered from record highs.
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