ECB

ECB cuts interest rates as growth dwindles

The European Central Bank cut interest rates again on Thursday and signalled a "declining path" for borrowing costs in the months ahead as inflation slows and economic growth in the euro zone falters. The ECB lowered its deposit rate by 25 basis points to 3.50%, following up on a similar cut in June as inflation is now within striking distance of its 2% target and the domestic economy is skirting a recession. The move had been widely telegraphed and investor attention has already shifted to wh...

June 5, 2024 3:08 PM

Global stocks gain on rate-cut wagers as ECB meeting looms

World shares rose on Wednesday and the dollar steadied with a European Central Bank policy meeting coming into focus following soft U.S. labour market data that firmed up bets of a September rate cut by the Federal Reserve. Worries about a cooling U.S. economy, however, kept a lid on risk appetite. The focus in Asia stayed on Indian markets, with stocks rising after Tuesday's plunge as voting results showed a slimmer-than-expected victory margin for PM Narendra Modi. The ECB meets on Thursday ...