The European Central Bank continues to lower interest rates.
The European Central Bank (ECB), based in Frankfurt, Germany, has announced that for the second time in 2024, it has reduced the interest rate, which has now reached 3.5%.
Economic analysts hope that the reduction in interest rates in the Eurozone will lead to an improvement in economic growth.
The reduction in interest rates will also reduce the cost of borrowing for companies and individuals.
The European Central Bank had kept interest rates at a high level for a long time with the aim of combating inflation and controlling price increases in the Eurozone.
Recently, the inflation rate in this region has decreased to 2.2%, the lowest level in the past three years. In Germany, this rate has even reached 1.9%.
