The European Central Bank (ECB) cuts borrowing rates for the eurozone by 0.25 percentage points

From Forbes: 2024-06-06 15:03:01

6 June: Eurozone Headline Rate Falls From 4.5% To 4.25%
The European Central Bank (ECB) cuts borrowing rates for the eurozone by 0.25 percentage points, marking the first decrease since 2019. Main refinancing rate now 4.25%. ECB explains decision based on updated inflation outlook. Move follows similar rate cuts by other central banks. Bank of England expected to follow suit.

22 May: April Inflation Lands Within Whisker Of BoE Target
UK inflation falls to 2.3% in the year to April, lowest since 2021. Bank of England’s target is 2%. Declines seen in electricity, gas prices. Possibility of interest rate cut as early as June. Bank Rate at 5.25% since 2023. Eyed in light of upcoming General Election on 4 July.

15 May: Inflation Down But Hopes Fade for Next Fed Meeting
US inflation at 3.4% in year to April, down from 3.5%. No expected cut in borrowing costs at next Fed meeting on 12 June. Housing and fuel costs main drivers of monthly increase. Core inflation rate at 3.6%. No immediate signs of interest rate reduction.



Read more at Forbes: Euro Bank Follows Canada With 0.25 Percentage Points Rate Cut – Forbes Advisor UK