FRANKFURT, Germany (AP) — The European Central Bank has cut interest rates by another quarter percentage point, lowering credit costs for consumers and businesses to support an economy that is struggling to show solid growth.
FRANKFURT, Germany — The European Central Bank has cut interest rates by another quarter percentage point, lowering credit costs for consumers and businesses to support an economy that is struggling to show solid growth.
As inflation has fallen to an annual, 2.4% concern has shifted to weak growth prospects in the 20 countries that use the euro currency. The eurozone showed zero growth in the last three months of 2024, and prospects for this year are muted amid uncertainty about U.S. President Donald Trump’s trade policy.
At its last meeting, the bank said rates were still in “restrictive” territory, indicating further cuts were ahead. After Thursday, the bank's next step is less clear, said Carsten Brzeski, chief of global macro at ING bank. Those two forces could push the ECB in opposite directions: a hit to growth would call for lower rates in months ahead, while more persistent inflation would argue for keeping rates higher in coming months.
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