The European Central Bank announced another interest rate cut

On January 30, local time, the European Central Bank held a monetary policy meeting at its headquarters in Frankfurt, Germany, and decided to cut the three key interest rates in the euro area by another 25 basis points. This is the fifth interest rate cut by the European Central Bank since it began cutting interest rates in June 2024.

According to the latest interest rate decision announced by the European Central Bank, the deposit mechanism interest rate was reduced to 2.75%, the main refinancing rate was reduced to 2.90%, and the marginal lending rate was reduced to 3.15%. The new interest rate standard will take effect on February 5.

European Central Bank President Lagarde held a press conference and said that the European Central Bank Governing Council decided to reduce the deposit mechanism interest rate by 25 basis points to 2.75%, mainly based on the fact that the eurozone economy will remain weak in the short term and inflation will gradually decline.