The European Central Bank slashed its interest rates by 25 basis points on Thursday, in line with expectations, while the staff trimmed the euro area price growth projections for this year and next citing prospects of lower energy prices and a stronger euro going forward.
The Governing Council, led by ECB President Christine Lagarde, lowered the deposit facility rate by a quarter basis point to 2.0 percent. The refinancing rate was cut to 2.15 percent and the marginal lending rate to 2.40 percent.
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Business News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.