European Central Bank cuts main interest rate by 0.25 points

European Central Bank cuts main interest rate by 0.25 points

ECB reduces rate to 3.75% across eurozone, putting it ahead of US Federal Reserve and Bank of England

The European Central Bank has eased the pressure on borrowers across the eurozone after cutting its main interest rate for the first time in almost five years.

The ECB reduced its deposit rate to 3.75% from a record high of 4%, putting it ahead of the US Federal Reserve and the Bank of England, which have yet to cut interest rates.

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