![BRUSSELS, BELGIUM – NOVEMBER 27: Christine Lagarde, President of the European Central Bank speaks during the European Parliament’s Committee on Economic and Monetary Affairs (ECON) meeting in Brussels, Belgium on Nevember 27, 2023. (Photo by Dursun Aydemir/Anadolu via Getty Images)](https://media.nbcnewyork.com/2024/03/107347569-1702554556212-gettyimages-1806078558-AA_27112023_1434749.jpeg?quality=85&strip=all&resize=320%2C180)
BRUSSELS, BELGIUM – NOVEMBER 27: Christine Lagarde, President of the European Central Bank speaks during the European Parliament’s Committee on Economic and Monetary Affairs (ECON) meeting in Brussels, Belgium on Nevember 27, 2023. (Photo by Dursun Aydemir/Anadolu via Getty Images)
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European Central Bank President Christine Lagarde is giving a press conference following the bank's latest monetary policy decision.
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The European Central Bank announced a 25-basis-point interest rate cut on Thursday, as expected, in its fifth reduction since the central bank began easing monetary policy in June last year.
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The reduction brings the ECB's deposit facility, its key rate, to 2.75%. Markets had been pricing in an over 90% chance of a 25-basis-point cut ahead of the announcement.