— AFP
THE European Central Bank cut interest rates for the third time this year on Thursday in a nod to sluggish economic growth, some softening in an otherwise rock-solid labour market and easing consumer price pressures.
The ECB cut its deposit rate by 25 basis points to 3.25% as forecast in a Reuters poll of analysts, in a tacit acknowledgement that inflation, now below 2%, could settle around its 2% target quicker than previously thought.
