AIRLINK 173.15 Increased By ▲ 15.74 (10%)
BOP 10.67 Increased By ▲ 0.30 (2.89%)
CNERGY 8.57 Increased By ▲ 0.25 (3%)
CPHL 96.55 Increased By ▲ 3.66 (3.94%)
FCCL 47.50 Increased By ▲ 0.77 (1.65%)
FFL 15.37 Increased By ▲ 0.49 (3.29%)
FLYNG 27.90 Increased By ▲ 0.92 (3.41%)
HUBC 138.88 Increased By ▲ 4.87 (3.63%)
HUMNL 12.76 Increased By ▲ 0.24 (1.92%)
KEL 4.52 Increased By ▲ 0.31 (7.36%)
KOSM 5.62 Increased By ▲ 0.23 (4.27%)
MLCF 63.05 Increased By ▲ 2.17 (3.56%)
OGDC 216.00 Increased By ▲ 7.48 (3.59%)
PACE 5.55 Increased By ▲ 0.15 (2.78%)
PAEL 44.86 Increased By ▲ 4.08 (10%)
PIAHCLA 18.58 Decreased By ▼ -0.22 (-1.17%)
PIBTL 10.77 Increased By ▲ 0.79 (7.92%)
POWER 12.25 Increased By ▲ 0.29 (2.42%)
PPL 174.59 Increased By ▲ 5.82 (3.45%)
PRL 36.47 Increased By ▲ 1.44 (4.11%)
PTC 23.67 Increased By ▲ 0.68 (2.96%)
SEARL 95.80 Increased By ▲ 2.70 (2.9%)
SSGC 39.13 Increased By ▲ 3.56 (10.01%)
SYM 13.95 Increased By ▲ 0.29 (2.12%)
TELE 7.23 Increased By ▲ 0.28 (4.03%)
TPLP 10.33 Increased By ▲ 0.33 (3.3%)
TRG 63.82 Increased By ▲ 3.15 (5.19%)
WAVESAPP 10.00 Increased By ▲ 0.30 (3.09%)
WTL 1.33 Increased By ▲ 0.03 (2.31%)
YOUW 3.74 Increased By ▲ 0.09 (2.47%)
BR100 12,530 Increased By 290.6 (2.37%)
BR30 37,761 Increased By 1367.8 (3.76%)
KSE100 116,417 Increased By 2264.3 (1.98%)
KSE30 35,851 Increased By 650.3 (1.85%)

FRANKFURT: The European Central Bank made a fresh interest rate cut Thursday as inflation eases and the eurozone economy flatlines, with a nervous eye on US President Donald Trump’s protectionist agenda.

The central bank cut its benchmark deposit rate by a further quarter point to 2.75 percent on Thursday, its fifth reduction since June last year and a move widely expected by observers.

The ECB’s decision stands in contrast to the latest move by the US Federal Reserve.

The central bank in the United States, whose economy has been outpacing the eurozone’s, on Wednesday left its key lending rate unchanged and said it was in no “hurry” to make changes, despite pressure from Trump for more cuts.

The ECB had previously hiked borrowing costs aggressively to tame runaway energy and food costs, but is now bringing them back down as price rises slow and the eurozone economy falters.

A recent uptick in inflation — which rose to 2.4 percent in December, above the ECB’s two-percent target — has caused some jitters.

But policymakers believe price pressures will ease during 2025, and their focus has shifted to relieving the strain on the beleaguered 20-nation eurozone.

Data released before the ECB’s meeting showed the eurozone economy registered zero growth in the final quarter of 2024, dragged down by contractions in heavyweights France and Germany, despite expectations for a slight expansion.

Comments

Comments are closed.