ECB cuts interest rates, and other economics stories to read this week

This weekly round-up brings you the latest news from the world of economics and finance.

Top economy news: ECB cuts interest rates; US consumer prices rise; German inflation falls to its lowest level in over 3 years.

1. ECB cuts interest rates

The European Central Bank (ECB) has cut interest rates once again, lowering its deposit rate by 25 basis points. That brings the rate down to 3.5%, in a widely expected move amid slowing inflation and tepid economic growth.

Rates had also been cut in June, but the bank offered no indications of what its next move would be.

“The Governing Council will continue to follow a data-dependent and meeting-by-meeting approach to determining the appropriate level and duration of restriction,” the ECB said in a statement. “The Governing Council is not pre-committing to a particular rate path.”

ECB President Christine Lagarde reiterated this, saying that the rate path was not predetermined, with decisions taken on a meeting-by-meeting basis.

Source: World Economic Forum