European Central Bank cuts interest rates

Note: This section contains information in English only.
Source: Dukascopy Bank SA


The European Central Bank has cut its Main Refinancing Rate, which is the base rate for all Euro debt. Namely, the rate is the base borrowing cost for the European currency. The rate has been reduced from 4.25% to 3.65%, as expected by market analysts.

The Euro is reacting to the news by increasing volatility, but the rate remains at prior levels, as the markets were correct.

Markets expected the ECB to cut rates down to 3.65%, as the central bank policymakers have been commenting to the public that they intend to continue to reduce the rate. Inflation in the EU has subsided, which indicates that rates can be reduced. Meanwhile, GDP growth has stalled, and in some countries has begun to shrink. The GDP dynamics indicate that stimulus is needed.
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