European Central Bank cuts interest rates for second time this year

FRANKFURT, 12th September, 2024 (WAM) -- The European Central Bank lowered interest rates for the second time this year with inflation receding toward 2 percent, Bloomberg reported on Thursday.

The key deposit rate was cut by 25 basis points to 3.5 percent on Thursday - as all analysts polled by Bloomberg predicted. The ECB reiterated that it can't commit to a specific path for borrowing costs.

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