The European Central Bank reduced its key interest rates by 25 basis points on Thursday, as expected, as the euro area growth is forecast to slow on weaker demand and core inflationary pressures to remain high, thanks to the stickiness of services inflation.
The Governing Council, led by ECB President Christine Lagarde, lowered the deposit facility rate, which is the new policy rate, to 3.50 percent.
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by Jyotsna V
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