European Central Bank poised to cut rates again as inflation drops below target
- The European Central Bank cut interest rates again on Oct 17, indicating a faster pace of lowering borrowing costs as inflation in the eurozone drops unexpectedly.
- The ECB's benchmark deposit rate is now 3.25 percent after the cut, and inflation in the eurozone has dipped below the ECB’s two-percent target for the first time in three years.
- The ECB's governing council stated that despite the reduction, they consider the current reference interest rate as restrictive, showing concerns about the eurozone’s growth outlook.
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Total News Sources0
Leaning Left16Leaning Right6Center18Last UpdatedBias Distribution45% Center
Bias Distribution
- 45% of the sources are Center
45% Center
L 40%
C 45%
15%
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