The European Central Bank decided in its meeting moments ago today, Thursday, January 30, to cut the three main interest rates by 25 points (deposits 2.75%, refinancing operations 2.90%, and lending 3.15%) as expected, in the fifth cut by the European Central Bank in the last six meetings since June.
The bank’s interest statement stated that the process of reducing inflation is on the right track and is in line with the bank’s expectations and is scheduled to return to the bank’s target of 2% during the current year, and core inflation is expected to stabilize at a level close to the target in a sustainable manner.
The bank’s board of directors is determined to ensure that inflation stabilizes at its target and will adopt a data-driven approach and meeting after meeting to determine the appropriate monetary policy stance.
Interest rate decisions will depend on inflation expectations and upcoming economic data and are not committed in advance to a specific path.
The markets are awaiting the statements of Christine Lagarde, President of the European Central Bank, at her press conference in less than half an hour from now to comment on the decision.
30/01/2025
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