According to Odaily, the European Central Bank (ECB) has proceeded with an anticipated interest rate cut of 25 basis points. This move has brought down three major rates to 4.25%, 3.75%, and 4.50% respectively.
The marginal lending rate of the ECB now stands at 4.5%, which aligns with the market expectations and is a decrease from the previous rate of 4.75%. The deposit facility rate has been reduced to 3.75%, which also meets the market forecast and is a drop from the former rate of 4.00%.
Lastly, the main refinancing rate of the ECB has been lowered to 4.25%, matching the market prediction and marking a decrease from the earlier rate of 4.50%.
