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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessMNI BRIEF: ECB Cuts Rates By 25BP, Remains Data Dependent
The European Central Bank cut its key interest rates by 25 basis points on Thursday, lowering the benchmark deposit rate to 3.75%.
"Based on an updated assessment of the inflation outlook, the dynamics of underlying inflation and the strength of monetary policy transmission, it is now appropriate to moderate the degree of monetary policy restriction after nine months of holding rates steady," the Governing Council said in a statement.
Projections, mainly prepared by national central banks, saw inflation modestly higher than foreseen in March for both 2024 and 2025, at 2.5% and 2.2% respectively.
The ECB said it would continue to take decisions on a meeting-by-meeting, data-dependant basis, keeping policy sufficiently restrictive to achieve its price target. (See MNI SOURCES: ECB To Hold In July, Signal Likely September Cut)
Vice President Luis de Guindos will discuss the projections and the thinking behind the latest decision at an MNI Connect livestream event on June 12. Register for the event here
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.