European Central Bank Cuts Rates Again by 25BP as Expected
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September 12, 2024
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European Central Bank Cuts Interest Rates for Second Time This Cycle
ChainCatcher News, citing Jin10, reports that the European Central Bank (ECB) has cut interest rates for the second time this cycle. The deposit facility rate was lowered from 3.75% to 3.50%, marking the lowest level since June 2023. This move aligns with market expectations.
As of September 12th, the ECB's main refinancing rate for the Eurozone stands at 3.65%, meeting the expected rate and down from the previous value of 4.25%.
Similarly, the ECB's deposit facility rate for the Eurozone currently sits at 3.5%, also in line with expectations and down from the previous rate of 3.75%.
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