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MNI ECB WATCH: ECB Cuts 25BP, Says Rates Still Restrictive

The European Central Bank cut rates by 25 basis points as expected.
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MNI (FRANKFURT) - The European Central Bank reduced its benchmark Deposit Rate by 25 basis points to 2.75% on Thursday, its fourth consecutive cut, and left the language in its statement unchanged, expressing confidence that inflation will converge towards its 2% target in 2025.

ECB President Christine Lagarde said that rates remain in restrictive territory, and added that the Governing Council neither discussed when it should stop cutting interest rates or the level of the neutral rate at which monetary policy neither stimulates nor exerts a drag on activity.

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MNI (FRANKFURT) - The European Central Bank reduced its benchmark Deposit Rate by 25 basis points to 2.75% on Thursday, its fourth consecutive cut, and left the language in its statement unchanged, expressing confidence that inflation will converge towards its 2% target in 2025.

ECB President Christine Lagarde said that rates remain in restrictive territory, and added that the Governing Council neither discussed when it should stop cutting interest rates or the level of the neutral rate at which monetary policy neither stimulates nor exerts a drag on activity.

Keep reading...Show less