Central bank may give some clarity on path of interest rates for the future
The European Central Bank in on track to cut its key interest rates by a quarter of a percentage point on Thursday, marking a fourth time it has reduced official borrowing costs since June as inflation continues to cool, according to economists.
The latest round of expected cuts would see the deposit rate – the ECB’s main rate – fall to 3 per cent. It would leave the bank’s main lending rate, off of which tracker mortgages are priced, at 3.15 per cent. Euro zone inflation climbed to an annual rate of 2.3 per cent in November from 2 per cent the previous month, while services prices remained particularly elevated, at 3.9 per cent, according to figures published by Eurostat, the EU’s statistics agency, at the end of last month. Inflation across the single-currency region had peaked at 10.6 per cent in October 2022.
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