ECB cuts rates and leaves room for more easing as growth lags

Irish homeowners on tracker mortgages will benefit immediately by approximately €13 per €100,000 borrowed
ECB cuts rates and leaves room for more easing as growth lags

President of European Central Bank Christine Lagarde.

The European Central Bank cut interest rates on Thursday and kept the door open to further policy easing as concerns over lacklustre economic growth supersede worries about persistent inflation.

It was the fifth ECB rate cut since June and markets expect two or three more this year, driven by arguments that the biggest inflation surge in generations is nearly defeated and the flagging economy needs relief.

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