European Central Bank lowers forecast for GDP growth, as it cuts interest rates for the second time this year
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The European Central Bank has warned that economic growth in the eurozone will be weaker than it had hoped, as it lowered interest rates for the second time this year.
The ECB’s governing council decided to lower its deposit rate – paid to banks who make overnight deposits with the Eurosystem – by a quarter of one per cent, from 3.75% to 3.5% on Thursday.
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