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The EU has become the second major global economy to reduce its lending rate this week, citing progress in addressing inflation. The European Central Bank (ECB) announced a cut in its main interest rate from a record high of 4% to 3.75%, following Canada’s decision on Wednesday to lower its official lending rate. This rate cut coincides with EU-wide elections over the next four days, where voters are expected to express their dissatisfaction with cost-of-living pressures. ECB President Christine Lagarde stated that the inflation outlook had “markedly” improved, enabling the rate reduction. However, she cautioned that inflation is likely to …
Leggi di piu »Eurozone Lowers Interest Rate for the First Time in Five Years
