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#EuropeanCentralBank Cuts Rates as #Inflation Cools

Policymakers who set interest rates for the 20 countries that use the #euro lowered rates in back-to-back meetings for 1st time since 2011.

#ECB lowered their key rate by ¼ pt, to 3.25%. The decision came 5 wks after a cut at the bank’s previous meeting, & on the day a report showed eurozone’s inflation rate slowing to 1.7% in Sept, falling below the bank’s 2% target for the 1st time in >3 yrs.

#GlobalEconomy #economy
https://www.nytimes.com/2024/10/17/business/ecb-interest-rate-cut-inflation.html?smid=nytcore-ios-share&referringSource=articleShare