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ECB to cut rates again while bets build for summer pause
The European Central Bank is almost certain to cut interest rates again on Thursday and keep all options on the table for subsequent meetings, even as the case grows for a summer pause in its year-long easing cycle. The ECB has cut rates seven times in 13 months as inflation eased from post-pandemic highs, seeking to prop up a euro zone economy that was struggling even before erratic U.S. economic and trade policies dealt it further blows. With inflation now safely in line with its 2% target and a cut flagged by a host of policymakers, Thursday's decision will be uncontroversial, shifting the focus to what signals ... (full story)
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From ecb.europa.eu|Jun 5, 2025|6 commentsThe Governing Council today decided to lower the three key ECB interest rates by 25 basis points. In particular, the decision to lower the deposit facility rate – the rate through which the Governing Council steers the monetary policy stance – is based on its updated assessment of the inflation outlook, the dynamics of underlying inflation and the strength of monetary policy transmission. Inflation is currently at around the Governing Council’s 2% medium-term target. In the baseline of the new Eurosystem staff projections, headline inflation is set to average 2.0% in 2025, 1.6% in 2026 and 2.0% in 2027. The downward revisions compared with the March projections, by 0.3 percentage points for both 2025 and 2026, mainly reflect lower assumptions for energy prices and a stronger euro. Staff expect inflation excluding energy and food to average 2.4% in 2025 and 1.9% in 2026 and 2027, broadly unchanged since March. ECB INTEREST RATE DECISION (JUN) ACTUAL: 2.15% VS 2.40% PREVIOUS ; EST 2.15% EUROZONE DEPOSIT FACILITY RATE (JUN) ACTUAL: 2.00% VS 2.25% PREVIOUS; EST 2.00% ECB MARGINAL LENDING FACILITY ACTUAL: 2.40% VS 2.65% PREVIOUS ECB SAYS STAFF SEE REAL GDP GROWTH AVERAGING 0.9% IN 2025, 1.1% IN 2026 AND 1.3% IN 2027 ECB SAYS WHILE UNCERTAINTY SURROUNDING TRADE POLICIES IS EXPECTED TO WEIGH ON BUSINESS INVESTMENT AND EXPORTS, ESPECIALLY IN SHORT TERM, RISING GOVERNMENT INVESTMENT IN DEFENCE AND…
ECB cuts rates for eighth time amid trade war risk The European Central Bank cut interest rates for the eighth time in a year on Thursday, acknowledging inflation was under control and turning more pessimistic about the euro zone's economic prospects amid risks of a trade war with the United States. Thursday's cut lowers the rate that the ECB pays on bank deposits from 2.25% to 2.0%, the middle of the range that the central bank sees as "neutral" - neither curbing nor boosting the economy. The ECB kept all options open for its subsequent meetings, although some policymakers and many investors expect a pause in rate cuts at its next meeting in July. "Especially in current conditions of exceptional uncertainty, (the ECB) will follow a data-dependent and meeting-by-meeting approach," it said.
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