Policymakers who set interest rates for the 20 countries that use the euro have lowered rates in back-to-back meetings for the first time since 2011.

The European Central Bank, which sets interest rates for the 20 countries that use the euro currency, is not expecting the bloc to fall into recession as it cut borrowing costs once again after figure

Following the September policy meeting, the ECB decided to lower the interest rate on the marginal lending facility to 3.9% from 4.5% and the deposit facility, also known as the benchmark interest rate, by 25 basis points (bps) to 3.5%. The ECB also cut the interest rate on the main refinancing operations by 60 bps to 3.65%.

INTEREST RATES HAVE been cut for the third time this year by the European Central Bank (ECB) as the inflation rate in the Eurozone begins to come under control. Bank deposit rates have been cut by 25 points to 3.25%, in a move that had been widely anticipated. The reduction will instantly benefit those on tracker mortgages most notably.

The central bank began trimming the deposit rate by 25 basis points in June 2024, and cut by the same amount again in September after annual headline inflation fell back toward it

The euro began its downtrend against the US dollar at the end of September after reaching a 15-month high. Despite a potential near-term rebound, analysts suggest the euro's weakness may persist.

Chile's central bank on Thursday said it was cutting its benchmark interest rate to 5.25% from a previous level of 5.50%, in a unanimous decision in line with analysts forecasts. The bank said that if the economic scenario envisaged in its September report materialize,

The bank’s rate-setting council said the "disinflationary process is well on track.”

European Central Bank cuts its main interest rate by a quarter-point to 3.25% as inflation falls below its target