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| The disinflation process in the eurozone is on track, according to the ECB chief |
| Frankfurt am Main, 07.03.2025 |
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| The European Central Bank (ECB) cut its interest rates again on Thursday, as expected. It also left the door open to further easing of monetary policy, but said it would not commit to any specific steps in advance. TASR reports this based on reports from Reuters and DPA.
"If the data suggest that in order to achieve our goal, the appropriate monetary policy should be a reduction, we will do so. On the other hand, if the data suggest that this is not the case, then we will not cut and we will take a break," ECB President Christine Lagarde said at a press conference, adding that "the disinflation process is on track."
Some economists expect the ECB to cut rates further by mid-year. The reason is trade disputes with the United States. These could put further pressure on the eurozone economy, which, according to the ECB's latest forecast, should grow more slowly than previously expected. “Risks to economic growth remain tilted to the downside,” Lagarde said. “An escalation of trade tensions would reduce eurozone growth by dampening exports and weakening the global economy,” the ECB chief concluded.
The ECB cut its key interest rate for the sixth time in a row on Thursday by 25 basis points to 2.5% to support economic growth in the eurozone. The cut in the main deposit rate to 2.5% should provide a boost to the economy by making it cheaper to borrow money to expand a business or buy a home. With eurozone inflation falling to 2.4% in February 2025 from a peak of 10.6% in October 2022, attention has shifted to the weak growth outlook for the region that adopted the euro.
The ECB said it now expects the eurozone economy to grow by 0.9% in 2025, down from 1.1% in its December forecast, and cut its estimate for 2026 to 1.2% from 1.4%.
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