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ECB cuts all benchmark rates by 0.25% and lowers 2025 and 2026 growth rates-EUR/USD falls
The European Central Bank (ECB) have just announced the outcome of their monetary policy decision. The ECB have lowered all 3 benchmark rates (Refinancing rate, deposit facility and lending facility) by 0.25%. This was very much the consensus outcome, despite some calls and expectation for a deeper 0.50% cut today. The reaction in the markets has. Ahead of this the EUR/USD was at session lows, trading around 1.0480. This news has caused it to lift ever so slightly, but it is not exactly flying higher. The comments from the ECB accompany this decision also infer no set path for future decisions. However, the ECB have lowered their 2025 and 2026 growth forecasts and that has pushed the Euro lower again The markets will now move on, to see what the ECB Boss, Christine Lagarde has to say in her 1.45pm GMT press conference. The lowering of those growth forecasts it seems has sent the EUR/USD down to a fresh session low
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