
The European Central Bank (ECB) has reduced its benchmark interest rate by 25 basis points, bringing the deposit facility rate to 3.5%, down from 4.5%. Additionally, the interest rate on the marginal lending facility was lowered to 3.9%, while the main refinancing operations rate was cut by 60 bps to 3.65%.
These cuts, which were widely anticipated by markets, reflect the ECB's continued efforts to steer inflation back toward its 2% target. The updated economic forecasts and ECB President Christine Lagarde's press conference will be closely watched for further policy cues.
This decision is expected to inject volatility in currency markets, particularly in the EUR/USD pair, as investors analyze the ECB's outlook on future monetary policy. Keep an eye on live coverage for more details.
Stay tuned for further developments and insights from the ECB's September policy meeting.
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