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ECB cuts benchmark interest rate by quarter point as Trump tariffs threaten economy
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....CB cuts benchmark interest rate by quarter point as Trump tariffs threaten economy<BR>Customs & Trade<BR>Dated:- 5-6-2025<BR>PTI<BR>Frankfurt, Jun 5 (AP) The European Central Bank cut its benchmark in....
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....terest rate for an eighth time, aiming to support businesses and consumers with more affordable borrowing as US President Donald Trump's trade war threatens to slow already tepid growth. The bank's ....
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....rate-setting council cut interest rates by a quarter of a point Thursday at the bank's skyscraper headquarters in Frankfurt. Analysts expected a cut, given the gloomier outlook for growth since Trum....
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....p announced a slew of new tariffs April 2 and subsequently threatened to impose a crushing 50% tariff, or import tax, on European goods. The bigger question remains how far the bank will go at subse....
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....quent meetings. Bank President Christine Lagarde's remarks at a post-decision news conference will be scrutinised for hints about the bank's outlook. Thursday's decision took the bank's benchmark ra....
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....te to 2%, down from a peak of 4% in 2023-24. The bank raised rates to suppress an outbreak of inflation in 2021-23 that was triggered by Russia's invasion of Ukraine, and by the rebound from the pan....
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....demic. But as inflation fell, the bank shifted gears toward supporting growth by lowering rates. With inflation now down to 1.9%, below the bank's target of 2%, analysts say the bank has room to take ....
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....rates even lower to support growth. (AP) SCY SCY<BR> News - Press release - PIB....