European Central Bank Cuts Interest Rates as Inflation Falls Below Target

The ECB lowered its main rate for the third time this year, responding to easing inflation and a sluggish economic outlook in the eurozone.

• The European Central Bank reduced its deposit rate by 0.25 percentage points to 3.25%, marking its third rate cut in 2024.
• Eurozone inflation dropped to 1.7% in September, the lowest in over three years and below the ECB's 2% target.
• The ECB remains cautious about future rate cuts, emphasizing a data-driven approach amid concerns about economic growth.
• Weak economic indicators, including poor business activity and sentiment surveys, have contributed to the ECB's decision to cut rates.
• Despite recent cuts, some ECB policymakers warn about potential inflationary pressures from rising wages and energy costs.

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