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Maroc Maroc - FINANCIALMIRROR.COM - A La Une - 17/Oct 14:20

ECB cuts interest rates by 25 bps

The EURGBP pair remained fragile Thursday after the European Central Bank policy meeting which decided to cut its rate on deposit facility by 25 basis points (bps) to 3.25%. The ECB reduced its key borrowing rates for the second straight time, with the EURUSD pair remaining stuck near a 10-week low, while as expected, the Pound Sterling remains fragile as soft UK inflation prompts a rate cut bet. The Eurozone central bank was already expected to cut its key borrowing rates as recent commentaries from officials indicated that they more worried about stagnation in economic growth than taming price pressures.

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