The European Central Bank lowered its interest rates for a fourth policy session in a row on Thursday, to its lowest level in two years, and is likely to opt for more easing going forward as policymakers seek neutrality amid a slump in Eurozone growth and expectations for inflation to return to target over the course of the year.
The Governing Council, led by ECB President Christine Lagarde, lowered the benchmark - the deposit rate - by 25 basis points to 2.75 percent. The rate is now at the lowest level since February 2023 when it was at 2.50 percent.
The main refinancing rate was trimmed by a similar volume to 2.90 percent and the lending rate to 3.15 percent, respectively.
by Jyotsna V
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