The European Central Bank cuts rates by 25 basis points for the third time. The rate on deposits falls to 3.25%, the rate on main refinancing operations to 3.40% and the rate on marginal loans to 3.65%. The ECB announced this after the meeting near Ljubljana, Slovenia. «The latest information on inflation indicates that the disinflationary process is well underway» and inflation prospects are «influenced by recent downward surprises in economic activity indicators». The ECB writes this, thus explaining the decision taken today to cut interest rates by a quarter of a point.
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