![European Central Bank.](https://images.jfeed.com/cdn-cgi/image/format=jpeg,fit=contain,width=900/2024/06/06/f3a50360-240c-11ef-a53f-1909d648c45b__h3938_w5579.jpg)
After consistently raising its interest rates since 2019, the European Central Bank is set to reduce its interest rate by 0.25% from 4.50% to 4.25%.
The marginal lending facility rate will also decline from 4.75% to 4.50% and the deposit facility from 4% to 3.75%.
It remains to be seen if other major central banks such as the Bank of England or the Federal Reserve follow suit.