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MNI BRIEF: ECB Cuts Rates By 25BP, Remains Data Dependent

(MNI) LONDON
(MNI) London

ECB cuts as expected, offers no clear guidance on rates going forward.

True

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.

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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.

Keep reading...Show less