ECB reduces key interest rates again: What does that mean for savers and loans?

ECB reduces key interest rates again: What does that mean for savers and loans?

Frankfurt, Deutschland - In a crucial turn, the European Central Bank (ECB) continues its monetary political relaxation course. On Thursday, the key interest rate was reduced for the sixth time since mid -2024. The deposit rate significant for banks and savers was reduced by 0.25 percentage points to 2.5 percent, which the central bank in Frankfurt officially announced. This measure aims to support the weakening economy in the euro area by becoming more favorable. At the same time, the interest rate for banks that borrow fresh money from the ECB also dropped from 2.9 percent to 2.65 percent. This is a clear announcement of the ECB that plans to support the economy to support the economy, such as