Source: Semafor
“The European Central Bank cut its headline interest rates for the third time this year on Thursday as inflation dropped below the bank’s 2% target. The key deposit rate was reduced by a quarter point to 3.25%, with the bank saying it was cutting rates because ‘we are well on track to reach our inflation goal.’ Just a few weeks ago, the ECB’s back-to-back rate cuts seemed unlikely, as policymakers warned of high inflation in parts of the economy. But the eurozone’s inflation rate fell further than expected in September, reaching below 2% for the first time since 2021.” (10/17/24)