The bank's rate-setting committee announced Thursday from its Frankfurt headquarters that it is lowering the benchmark rate from 3.2 percent to 3 percent.
The European Central Bank announced this week that it was cutting rates as concerns grow over weakening growth and political instability in France, as well as worries about President-elect Donald Trump's tariff threats.The Rate CutsThe bank's rate-setting committee announced Thursday from its Frankfurt headquarters that it is lowering the benchmark rate from 3.2 percent to 3 percent. The bank stated that its efforts to bring inflation back to the 2 percent target are proving successful.
With elections not possible until June, the collapse of Barnier's government hasn't sparked a financial crisis, but it has deepened uncertainty over how long it will take for France to stabilize its finances.Germany's governing coalition collapsed in November with a national election set for February 23.
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