Interest rate

UK Inflation Drops to 2%

In May, British annual inflation eased to 2.0% from 2.3% in April, marking a return to the Bank of England's target level for the first time since July 2021. This data, released by the UK's Office for National Statistics (ONS), aligns with expectations from the market, reflecting a diminishing impact of the COVID-19 pandemic and the ongoing conflict in Ukraine.

ECB Cuts Interest Rates for First Time Since 2019

The European Central Bank (ECB) has cut its key interest rates by 25 basis points, marking the first reduction since 2019. The main refinancing rate, marginal lending rate, and deposit rate have been adjusted to 4.25%, 4.50%, and 3.75% respectively. This is the first decrease in the refinancing and marginal lending rates since March 2016, and the deposit rate since September 2019.

ECB lowers interest rates for first time since 2019

The European Central Bank on Thursday made its first interest rate cut since 2019, reducing borrowing costs from record highs, but the path ahead remains unclear with inflation volatile.

The key deposit rate was lowered a quarter point to 3.75 percent. Rates had been on hold since October, after an unprecedented streak of hikes starting mid-2022 to tame runaway consumer prices.

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