ECB lowers rates but warns of 'bumpy road'

By Agence France-Presse

Jun 08, 2024 12:33 am

FRANKFURT, Germany — The European Central Bank (ECB) cut interest rates for the first time since 2019 on Thursday as eurozone inflation gradually eases, but president Christine Lagarde said the path ahead was unclear and warned of a 'bumpy road.'

The key deposit rate was lowered a quarter point to 3.75 percent, bringing it down from a record high.

European Central Bank (ECB) President Christine Lagarde gestures as she addresses a press conference following a meeting of the governing council of the ECB in Frankfurt am Main, Western Germany, on June 6, 2024. PHOTO BY KIRILL KUDRYAVTSEV VIA AFP

Already have an active account? Log in here to continue reading.
Or
Subscribe to the Premium Subscription plan to access this subscriber-exclusive article.

Related Articles

Bangko Sentral cuts reserve requirements

Rate cut could lift US consumer spirits

BoP surplus higher in August

PH auto sales forecasts raised

Asian markets track Wall Street

Market results mixed: Peso falls, PSEi gains

Rice, egg, galunggong prices increase