European Central Bank Set to Cut Interest Rates for First Time Since 2019 from vs 11 july Watch Video
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⏲ Duration: 0:38 👁 View: 2.2M times ✓ Published: 06-Jun-2024
Description: The European Central Bank is expected to cut its key interest rates this week for the first time since September 2019. This will mark the end of the record-fast rate hiking cycle begun during the COVID-19 pandemic to combat high inflation. Eurozone inflation came in slightly higher than expected in May at 2.6%, and core inflation at 2.9%. ECB officials say a single rate cut is consistent with their stance, but more cuts in July are not very likely. Domestic inflation, especially in services, remains persistent in the euro area.