BREAKING: EBC cuts interest rates in line with expectations

Deposit rate was lowered to 2.75%, in line with expectations. Previously the deposit rate was at 3.00%.

Statement:

ECB lowered three key interest rates by 25 bp
EBC said that is not pre-commiting to a particular rate path
EBC said that is determined to ensure that inflation stabilizes sustainably at 2% inflation goal
EBC said that the economy is still facing headwinds but rising real incomes and gradually fading effects of restrictive monetary policy should support a pick-up in demand over time.
EBC said that past rate hike are still transmitting and monetary policy is still restrictive
EBC will follow a data-depentend, meeting by meeting approach in determining appriopriate policy stance

The ECB did not surprise with a statement that is generally largely unchanged. The ECB believes that rates are still restrictive and also sees the potential for a recovery. The market still sees the potential for further interest rate cuts after today's announcement. The EURUSD is minimally rebounding in anticipation of Christine Lagarde's speech in about 20 minutes.

21 May 2026, 6:53 PM

Daily summary: Peace agreement draft lifts the market

21 May 2026, 2:54 PM

BREAKING: Mixed PMI from US

21 May 2026, 8:53 AM

Significant Weakness Following PMI Releases from France and Germany. ECB Hike Under Threat?

21 May 2026, 7:31 AM

Economic Calendar - Will Weak Asian PMIs Point to Weakness in Europe and the US?

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