Editor
The European Central Bank (ECB) on Thursday announced a quarter-point interest rate cut.
The rate was lowered to 3.75%. This is the first reduction in five years.
The eurozone has been grappling with inflation in the wake of the COVID-19 pandemic and Russia’s invasion of Ukraine.
Rates had been on hold since October.
The ECB put in place several interest rate hikes starting in mid-2022.
Inflation is projected to reach 2.5% in 2024. The ECB had previously foreseen an inflation rate of…
