The European Central Bank (ECB) announced on Thursday a decrease in its benchmark deposit rate to 2.5%, a decision projected to reduce borrowing expenses for consumers and businesses within the eurozone.

The ECB, based in Frankfurt, stated that efforts to combat inflation, which peaked above 10% in 2022, are progressing successfully.

At one point, the ECB’s interest rates reached a historical high of 4% aimed at controlling the increase in prices. Since June 2024, amidst a decline in inflation, the rates have been lowered on multiple occasions.

Stay tuned for further updates.

Source: https://www.dw.com/en/european-central-bank-cuts-key-interest-rate-to-2-5/a-71847459?maca=en-rss-en-all-1573-rdf