Lagarde Signals Potential ECB Interest Rate Cut in Summer Amidst Wage Growth Uncertainty
European Central Bank (ECB) Governor Christine Lagarde suggested on Wednesday that the ECB might implement interest rate cuts in the summer
ECB Reduces Rates to 1.25%
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The European Central Bank (ECB) has cut interest rates in the eurozone to a record low of 1.25% from 1.5%, the BBC reported.
The cut is smaller than was widely expected. Most economists had predicted half a percentage point cut to 1%.
It is the sixth time the ECB has lowered its key rate since October 2008, when it stood at 4.25%, as it tries to boost economic activity.
The unemployment rate in the eurozone rose to 8.5% in February, its highest level in almost three years.
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