Euro bank cuts rates again as economy lags

Reuters

Frankfurt, Updated At : 10:13 AM Oct 18, 2024 IST

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The European Central Bank cut interest rates for the third time this year on Thursday, saying inflation in the euro zone was increasingly under control while the outlook for the wider economy was worsening.

The first back-to-back rate cut in 13 years marks a shift in focus for the euro zone’s central bank from bringing down inflation to protecting economic growth, which has lagged far behind that of the United States for two years straight.

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