ECB Reduces Interest Rates for the Third Time in 2024
October 17, 2024
The European Central Bank (ECB) has reduced its key interest rate for the third time in 2024 as inflation in the Eurozone fell below the 2% target. Recent data shows that inflation in September was 1.7%, lower than expected. This marks the first consecutive reduction in interest rates in 13 years, reflecting the ECB's support for the economy. The bank has revised its growth forecasts, indicating a smaller GDP increase in 2024.