The European Central Bank lowered interest rates for the first time in five years on Thursday, in line with expectations, citing an improvement in the inflation outlook.
The Governing Council, led by ECB President Christine Lagarde, cut the main refinancing rate by 25 basis points to 4.25 percent. The deposit facility rate was lowered from a record high to 3.75 percent and the marginal lending rate was reduced to 4.50 percent.
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Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.