ECB Lowers Key Interest Rates Amid Inflation Update

Business 12 December 2024 23:55

The European Central Bank (ECB) announced on Thursday a 25 basis point reduction in its three key interest rates, effective December 18, in line with market expectations, CE Report quotes Anadolu Agency

The rates on the deposit facility, main refinancing operations, and marginal lending facility will be adjusted to 3.00%, 3.15%, and 3.40%, respectively. This decision reflects the bank’s updated assessment of the inflation outlook.

The ECB noted progress in the disinflation process, projecting headline inflation to average 2.4% in 2024, 2.1% in 2025, 1.9% in 2026, and 2.1% in 2027. A flash estimate showed headline inflation rising to 2.3% in November from 2% in October, while core inflation, excluding energy and food prices, remained stable at 2.7%.

Economic growth in the eurozone also showed improvement. GDP grew by 0.4% in the third quarter of 2024, up from 0.2% in the previous quarter, marking a 0.9% year-on-year increase—the strongest growth since 2023.

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ECB Lowers Key Interest Rates Amid Inflation Update

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