The ECB, for the fourth time since it began cutting rates last June, reduces the cost of money with a 25 basis point cut.
The central bank communicates this. The rate on deposits thus falls to 3%the rate on main refinancing operations at 3.15%, that on marginal loans at 3.40%.
The European Central Bank is once again revising growth estimates downwards, with a new cut compared to the September forecasts.
According to staff projections, growth will stop at 0.7% in 2024 (from 0.8% in September), 1.1% in 2025 (from 1.3%) and 1.4% in 2026 (from 1.5%). The estimate for 2027 is 1.3%.
“Our experts now expect a slower economic recovery than indicated in the September projections – we read in a note from the ECB – the indicators based on economic surveys point to a contraction in the current quarter”.