The European Central Bank cut its key interest rates for the fifth policy session in a row and also lowered the growth forecast for the euro area mainly due to prospects of weak exports and investment in the backdrop of high trade uncertainty amid the tariffs war, and signaled a pause in the easing cycle as policy is now deemed less restrictive.
The Governing Council, led by ECB President Christine Lagarde, cut the deposit rate by 25 basis points to 2.50 percent, which is the lowest level since February 2023 when it was at the same level.
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by Jyotsna V
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