European Central Bank Lowers Deposit Facility Rate to 3.50%

According to Odaily, the European Central Bank (ECB) has reduced its deposit facility rate for the second time within its current cycle, lowering it from 3.75% to 3.50%. This adjustment brings the rate to its lowest level since June 2023 and aligns with market expectations. As of September 12, the ECB's main refinancing rate stands at 3.65%, consistent with forecasts and down from the previous rate of 4.25%. The deposit facility rate, also as of September 12, is now 3.50%, matching market predictions and down from the prior rate of 3.75%.