सिंहदरबार संवाददाता
Kathmandu. The European Central Bank (ECB) on Thursday decided to cut its key interest rate by 25 percentage points. After the interest rate cut, the interest rates on the deposit facility, main refinancing operations and marginal lending facility will be reduced to 2.75 percent, 2.9 percent and 3.15 percent, respectively, the ECB said.
The decision to cut interest rates was based on an updated assessment of the inflation outlook, the dynamics of underlying inflation and the strength of monetary policy transmission.
Reiterating its commitment to pursuing its responsibility to bring inflation to a sustainable level of 2 percent, the ECB has emphasized that it will remain committed to its data and meeting reviews and outlook in determining its future monetary policies. .
“The European economy is still facing a crisis, but rising real incomes and the gradual fading of the impact of restrictive monetary policy will support demand growth over time,” the statement said. Market observers expect the central bank to ease monetary policy as inflation concerns in the euro zone ease.
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