ECB cuts policy rate by 25 basis points

Strong eurozone wage growth rules out commitment to further cuts, says governing council

ECB 2017

The European Central Bank cut its policy rate by 25 basis points today (June 6), in a widely awaited move despite eurozone inflation rising slightly.

The ECB cut the deposit facility rate to 3.75%, the main refinancing rate to 4.25% and the marginal lending facility rate to 4.5%. The governing council had held rates since September 2023, after starting a tightening cycle in July 2022.

The decision comes two days after Eurostat announced eurozone inflation was 2.6% year on year in May, up from 2.4

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