Title: European Central Bank Lowers Interest Rates for the First Time Since 2019

The European Central Bank announced a reduction in interest rates for the first time since 2019, in line with expectations. The Monetary Policy Committee of the European Central Bank decided today, Thursday, to lower interest rates by 25 basis points, bringing them to a level of 4.25 percent. Following an unprecedented series of interest rate hikes in the eurozone starting in mid-2022 to curb soaring energy and food costs, inflation has begun to gradually decline towards the European Central Bank's target of 2 percent.