European Central Bank cuts interest rates again as inflation slows

  • last month
The European Central Bank (ECB) has cut its key interest rates as the markets expected, marking its second reduction this year following a move in June.
Transcript
00:00The European Central Bank has decided to cut interest rates as inflation eases, marking the second reduction since June.
00:09New interest rates have been set at 3.65% for main refinancing operations, 3.90% for the marginal lending facility and 3.50% for the deposit facility.
00:20The Governing Council today decided to lower the deposit facility rate, the rate through which we steer the monetary policy stance, by 25 basis points.
00:33Based on our updated assessment of the inflation outlook, the dynamics of underlying inflation and the strength of monetary policy transmission,
00:44it is now appropriate to take another step in moderating the degree of monetary policy restriction.
00:52The move has been widely anticipated by market participants.
00:57The decision comes as inflation cools, with Eurozone consumer price growth slowing to 2.2% in August.

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