ECB Cuts Key Interest Rate by 25 Basis Points to 3.0% for Fourth Time Since June 2024

Dec 12, 2024, 02:40 PM

The European Central Bank (ECB) has announced a reduction in its key interest rate by 25 basis points, bringing the rate down to 3.0%. This marks the fourth consecutive rate cut since June 2024, aimed at stimulating the eurozone economy amid ongoing concerns about economic growth. The ECB's decision reflects a commitment to addressing inflation, which was reported at 2.3% in the euro area and 2.2% in Germany as of November 2024. The central bank's latest move aligns with market expectations and indicates a cautious approach to future monetary policy adjustments, with discussions about the potential for further easing in the upcoming year.