Eurozone – MOSAEC

European Central Bank Cuts Interest Rates as Economic Growth Stagnates

The European Central Bank’s reduction, the fifth consecutive cut since last summer, came a day after the U.S. Federal Reserve held interest rates.

By Eshe Nelson

The continent’s economy continued to limp along, expanding just 0.4 percent in the latest quarter, dragged down by a loss of competitiveness.

By Liz Alderman

The reduction, to 3.5 percent from 3.75 percent, comes as inflation has slowed and the bank faces pressure to bolster the region’s flagging economy.

By Eshe Nelson

The central bank left its key deposit rate at 3.75 percent as inflation in the eurozone is expected to fluctuate throughout the rest of the year.

By Eshe Nelson