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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by Jyotsna V
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