ECB cuts interest rates for the first time in five years

26 Oct, 2024

The ECB cut interest rates for the first time in five years by 25 basis points, as expected, signalling A Loosening of Tightening Policy.

The 25 bps cut was based on the latest assessment of the Inflation Outlook,Underlying Inflation Dynamics and the Strength of Monetary Policy Transmission

And after keeping rates unchanged for nine months, the degree of monetary policy restriction is now appropriately eased.

Since the September 2023 MC meeting, inflation has declined by more than 2.5 percentage points, with a marked improvement in the inflation outlook.

Underlying inflation has also eased, reinforcing signs that Price Pressures are Weakening and Inflation expectations are falling across the board.

Monetary policy has restricted financing conditions and contributed significantly to the fall in inflation by dampening demand and stabilising inflation expectations.

The ECB's interest rate cut may Stimulate Import Demand in Europe and have a positive impact on China's exports, especially if the cut boosts growth in the European economy.

Therefore, businesses selling in Europe should take advantage of the ECB interest rate cut and arrange their purchasing plans.

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