ECB cuts key deposit rate by 25 bps to 3% amid concerns of tepid growth, impact of Trump trade policies

The European Central Bank lowered its benchmark interest rate by a quarter-point to 3% amid concerns about slowing economic growth, political instability in France, and the potential for new U.S. import tariffs under President-elect Trump. The move aims to support the eurozone's fragile post-pandemic recovery, threatened by both internal and external risks.