The European Central Bank (ECB) met market expectations by cutting its three key policy rates by 25 basis points. With this move, the ECB has decided to cut interest rates for the third consecutive meeting, marking the fourth time it has lowered rates this year.
According to the statement released today, the deposit facility rate was lowered from 3.25 percent to 3 percent. The bank also reduced the main refinancing rate to 3.15 percent and the marginal lending facility rate to 3.40 percent, implementing a 25 basis point cut for both rates.
News Source: 12punto
