European Central Bank leaves its key rate benchmarks unchanged at 4%


FRANKFURT, Germany 11th April, 2024 (WAM) — The European Central Bank signalled Thursday it could cut interest rates at its next meeting in June, a big step as the rich world’s central banks, including the U.S. Federal Reserve, wrestle with how soon declining inflation will let them lower credit costs for business and consumers, according to AP.

The bank left its key rate benchmarks unchanged at a record high of 4%, but bank President Christine Lagarde said a rate cut was now on the table.

If incoming data confirm inflation’s decline, “it would be appropriate to reduce the current level of monetary policy restriction,” she said at her post-decision news conference.