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European Central Bank Reduces Rates Again, Describes Policy as 'Significantly Less Restrictive'

The European Central Bank reduced its benchmark deposit rate to 2.5 percent on March 12, signaling a departure from previous rate increases to bolster the economy. ECB President Christine Lagarde pointed out various risks facing the eurozone, such as US tariffs and heightened German spending, which could complicate future monetary policy decisions. The bank also revised down its economic growth projections for 2025 and 2026 to 0.9 percent and 1.2 percent, citing reduced exports and sluggish investment as contributing factors.