ECB to start cutting, diverging from US Fed

By Agence France-Presse

Jun 07, 2024 12:29 am

THE European Central Bank (ECB) was expected to start cutting interest rates from record highs Thursday, its first reduction in nearly five years, but volatile inflation means the path ahead is uncertain.

After an unprecedented streak of eurozone rate hikes beginning in mid-2022 to tame runaway energy and food costs, inflation has been slowly coming down toward the ECB's 2-percent target.

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