Forex

FRANKFURT, June 6 (Reuters) - The European Central Bank cut borrowing costs from record highs on Thursday, acknowledging progress in its battle against high inflation but also signalling that fight had yet to be won as inflation was set to remain too high until next year.

Following are highlights of ECB President Christine Lagarde's comments at a news conference after the policy meeting.

ONE COUNCIL MEMBER OPPOSED RATE DECISION

FRANKFURT (Reuters) - The European Central Bank raised some of its economic growth and inflation projections on Thursday, predicting a somewhat later return of price growth to its 2% target.

Having tamed runaway inflation with a record string of rate hikes, the ECB cut interest rates for the first time since 2019 on Thursday, with further easing expected as the economy normalizes from a series of shocks related to the pandemic and Russia's war in... (continue reading...)

FRANKFURT (Reuters) - The European Central Bank cut interest rates for the first time in five years on Thursday but kept investors in the dark about its next move given increasing uncertainty over inflation after a sharp slowdown in the past year.

The ECB lowered its record-high deposit rate by 25 basis points to 3.75%, joining the central banks of Canada, Sweden and Switzerland in starting to unwind some of the steepest rate hikes used to tame a... (continue reading...)

The Governing Council today decided to lower the three key ECB interest rates by 25 basis points. Based on an updated assessment of the inflation outlook, the dynamics of underlying inflation and the strength of monetary policy transmission, it is now appropriate to moderate the degree of monetary policy restriction after nine months of holding rates steady. Since the Governing Council meeting in September 2023, inflation has fallen by more than 2.5 percentage points... (continue reading...)

Investing.com - The U.S. dollar steadied in early European trade Thursday, while the euro gained ahead of the latest policy-setting meeting by the European Central Bank. 

At 04:00 ET (09:00 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, rose marginally to 104.265.

The dollar has steadied Thursday, but has been trading largely on the back foot this week, weighed in part by the benchmark U.S. 10-year... (continue reading...)