🔔BREAKING GOOD NEWS!
The European Central Bank broke new ground in five years by reducing interest rates by a quarter basis point, in line with expectations.
Thus, the European Central Bank acted ahead of the Fed as another central bank that started to reduce interest rates after Sweden, Switzerland and Canada. Thus, while the interest rate in the Eurozone was reduced from 4.5% to 4.25%, the marginal borrowing rate was reduced from 4.75% to 4.5% and the deposit account rate was reduced from 4% to 3.75%. .
The market was considering the ECB's interest rate cut as a certainty. Thus, the bank reduced interest rates for the first time since September 2019.
