The European Central Bank (ECB) announced a quarter-point interest rate cut to 3.75%, marking its first reduction in five years amidst inflation concerns arising from the COVID-19 pandemic and Russia's Ukraine invasion.
Inflation is projected to hit 2.5% in 2024 compared to the ECB's prior forecast of 2.3%, with expectations for it to decrease to 2.2% in 2025 and 1.9% in 2026.
#european-central-bank #interest-rate-cut #inflation-concerns #eurozone-economy #covid-19-pandemic #russias-invasion-of-ukraine
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