ECB cuts rates for third time this year as Europe braces for Trump tariffs
Quarter-point cut in cost of borrowing aimed at combating slowing eurozone growth and impact of US border taxesBusiness live – latest updatesThe cost of borrowing fell across the 20-member euro area for the third time this year on Thursday when the European Central Bank cut its main interest rate to 2.25% in response to slowing growth and Donald Trump’s tariffs.The Frankfurt-based bank cut its benchmark deposit rate by a quarter of a percentage point, in line with City economist expectations, to tackle a slowdown in the bloc and the impact from the border taxes imposed earlier this month on all EU imports into the US. Continue reading...
Quarter-point cut in cost of borrowing aimed at combating slowing eurozone growth and impact of US border taxes
The cost of borrowing fell across the 20-member euro area for the third time this year on Thursday when the European Central Bank cut its main interest rate to 2.25% in response to slowing growth and Donald Trump’s tariffs.
The Frankfurt-based bank cut its benchmark deposit rate by a quarter of a percentage point, in line with City economist expectations, to tackle a slowdown in the bloc and the impact from the border taxes imposed earlier this month on all EU imports into the US. Continue reading...
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