The central bank of the European Union went ahead on June 6 with the first rate reduction in its monetary policy decisions since 2019, despite mixed data.
The European Central Bank (ECB), which was broadly anticipated to initiate its first rate cut, lowered three key interest rates by 25 basis points from June 12, which will decrease the rate on refinancing operations to 4.25 percent, while rates on the marginal lending facility and deposit facility were cut to 4.5 percent and 3.75 percent, respectively.
