Europe

The European Central Bank Continues to Lower Interest Rates

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The European Central Bank continues to lower interest rates

The European Central Bank (ECB), based in Frankfurt, Germany, announced that it has reduced interest rates for the second time in 2024, and the interest rate has now reached 3.5 percent

Economic experts hope that the reduction in interest rates in the Eurozone will lead to improved economic growth

The reduction in interest rates will also decrease 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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