The European Central Bank Continues to Lower Interest Rates

Thursday 12 September 2024

1 Min Read

The European Central Bank continues to lower interest rates

The European Central Bank (EZB), based in Frankfurt, Germany, announced that for the second time in 2024, it has reduced the interest rate, which now stands at 3.5 percent

Economic experts hope that lowering the interest rate in the Eurozone will lead to improved economic growth

Lowering the interest rate will also reduce the cost of obtaining loans for companies and individuals

The European Central Bank had kept interest rates high 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 percent, the lowest level in the past three years, and in Germany, this rate has even reached 1.9 percent

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The European Central Bank continues to lower interest rates

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