ECB cuts rates again as euro zone hit by economic, political woes

Quick Summary:

It is the ECB’s third rate cut in a row and fourth since June.

Even before the latest turbulence, the euro zone’s biggest economy was struggling with a manufacturing slowdown, and its anaemic growth rates are weighing down the broader single currency area.

Worse-than-expected data, as well as the Swiss central bank making an unexpectedly large rate reduction earlier on Dec 12, had fuelled speculation the ECB could deliver a hefty, half-percentage-point cut for the first time in the easing cycle.

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Article Details

Category: EconomyBusiness

Markets: SingaporeFranceGermanyUkraineUnited States

Topics: Euro Inflation Growth Rates Cent Ecb’s Outlook Central Political Rate Bank

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-12 @ 22:20:00 (4 hours ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 703 words

Reading Time: 4 minutes read

Sentences: 26 lines

Sentence Length: 28 words per sentence (average)

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Copyright Owner: © The Straits Times

News ID: 24379162

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