Reaffirmed future inflation drop allows for another ECB rate cut

12 September 2024

The Governing Council today decided to lower the deposit facility rate – the rate through which it steers the monetary policy stance – by 25 basis points. Based on the Governing Council’s updated assessment of the inflation outlook, the dynamics of underlying inflation and the strength of monetary policy transmission, it is now appropriate to take another step in moderating the degree of monetary policy restriction.

Monetary policy decisions

When staying put means moving forward

22 July 2024
Last week’s decision to maintain the current interest rates was both prudent and canny. It aligns perfectly with our ongoing strategy to closely monitor and analyse incoming data without precommitting to any specific action.

Governor’s comment

The three key ECB interest rates unchanged

18 July 2024
The Governing Council today decided to keep the three key ECB interest rates unchanged. The incoming information broadly supports the Governing Council’s previous assessment of the medium-term inflation outlook. While some measures of underlying inflation ticked up in May owing to one-off factors, most measures were either stable or edged down in June.

Monetary policy decisions