At its monetary policy meeting in Frankfurt on Thursday 6 June, the Governing Council of the European Central Bank (ECB) decided to cut its three key rates by 25 basis points for the first time since 2019. This comes after a series of 10 consecutive hikes in response to strong inflationary pressures, particularly in the euro area, followed by a period of pause, during which the ECB’s key rates were maintained at this high level.
From 12 June, the interest rate on the main refinancing...