The European Central Bank decided in its meeting moments ago today, Thursday, March 6, to cut interest rates by 25 basis points as expected to reach 2.65%, while announcing that the process of reducing inflation is on the right track.
The bank’s interest statement stated that inflation continued to develop broadly as expected, and the latest forecasts are closely consistent with previous expectations, as estimates indicate that headline inflation will reach 2.3% this year 2025, 1.9% next year 2026, and 2% in 2027, and that core inflation excluding energy and food prices will reach 2.2% this year and 2% next year.
The bank lowered its expectations for economic growth to 0.9% this year, 1.2% next year, and 1.3% in 2027, as these declines reflect the decline in exports and the continued weakness in investment.
The European Central Bank has stressed that it is determined to ensure that inflation remains sustainable at its 2% target, especially in the current context of heightened uncertainty, and will take a data-driven, meeting-by-meeting approach to determining the stance of monetary policy.
06/03/2025
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