The European Central Bank (ECB) is lowering its key interest rate, i.e. the deposit rate, by 0.25 percentage points to 3.25 percent.
This was in line with analysts' expectations, according to Bloomberg's compilation.
This is the third rate cut this year from the ECB, which also lowered the rate by 0.25 percentage points in June and September. The June cut was the first since 2019.
According to the ECB, inflation is decreasing at the pace the central bank had expected. Reduced economic activity is affecting the development and the ECB describes the financial conditions as still dampening.
The euro and market interest rates are not moving significantly after the announcement.
