Financial News: ECB Lowers Interest Rates For Fourth Session

ECB Lowers Interest Rates For Fourth Session

02/03/2025 - 06:43:00 (RTTNews)

(RTTNews) - The European Central Bank cut its interest rates for a fourth policy session in a row as expected as euro area economy ground to a halt in the final quarter of 2024 and inflationary pressures increased.

The Governing Council, led by ECB President Christine Lagarde, lowered the benchmark - the deposit rate - by 25 basis points to 2.75 percent.

The main refinancing rate was trimmed by a similar volume to 2.90 percent and the lending rate to 3.15 percent, respectively.

The central bank for the single currency bloc has lowered interest rates in every rate-setting session since September and each reduction was 25 basis points.

"The disinflation process is well on track," the ECB said in a statement.

"Inflation has continued to develop broadly in line with the staff projections and is set to return to the Governing Council's 2 percent medium-term target in the course of this year," the bank said.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

U.S. Construction Spending Climbs Much More Than Expected In December (01 hr(s), 27 min(s), 26 sec(s) ago)
(RTTNews) - A report released by the Commerce Department on Monday showed construction spending in ...Full Story»

U.S. Manufacturing Index Indicates Growth For First Time In Over Two Years (01 hr(s), 34 min(s), 26 sec(s) ago)
(RTTNews) - Following 26 consecutive months of contraction, the Institute for Supply Management re ...Full Story»

Finland HICP Inflation Eases Slightly (02 hr(s), 14 min(s), 26 sec(s) ago)
(RTTNews) - Finland's EU measure of inflation eased for the second straight month in January, ...Full Story»

Latvian Industrial Output Falls Most In 8 Months (02 hr(s), 44 min(s), 26 sec(s) ago)
(RTTNews) - Latvia's industrial production declined for the fourth straight month in December, ...Full Story»

Dutch Manufacturing Activity Remains In Contraction (03 hr(s), 09 min(s), 26 sec(s) ago)
(RTTNews) - The downturn in the Dutch manufacturing sector continued at the start of the year, sur ...Full Story»

Austria Inflation Rises To 8-Month High (03 hr(s), 50 min(s), 26 sec(s) ago)
(RTTNews) - Austria's consumer price inflation rose further in January to the highest level in ...Full Story»

UK Manufacturing Downturn Continues In January (04 hr(s), 05 min(s), 26 sec(s) ago)
(RTTNews) - The UK manufacturing activity continued to contract in January, albeit at a slower pac ...Full Story»

Swedish Factory Activity Expands Further (04 hr(s), 40 min(s), 26 sec(s) ago)
(RTTNews) - Sweden's manufacturing sector expanded for the sixth straight month in January, an ...Full Story»