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The monetary watchdogs of the European Central Bank are continuing their monetary easing course. The sixth key interest rate cut since mid-2024 was announced on Thursday.
Kronen Zeitung als bevorzugte Google-Quelle hinzufügen The deposit rate, which is important for banks and savers, was reduced by 0.25 percentage points to 2.5%, as the central bank announced in Frankfurt. The fight against inflation is making good progress. Lower interest rates are helping the weakening economy in the eurozone because loans are tending to become cheaper.
In addition to the deposit rate, the interest rate at which commercial banks can obtain fresh money from the central bank is now also falling further: instead of 2.9 percent, the latest decision by the ECB Governing Council means that 2.65 percent interest will be payable.
The interest rate at which commercial banks can obtain fresh money from the central bank continues: instead of 2.9 percent, 2.65 percent interest will be charged following the latest decision by the ECB Governing Council.
Not good news for savers
For savers, the renewed cut in the key interest rate is not good news: if commercial banks receive less interest for money they park with the ECB, they usually lower the overnight and fixed-term deposit interest rates for their customers. On the other hand, the renewed key interest rate cut is unlikely to have any impact on building interest rates, as experts believe the interest rate cut has already been priced in.
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