ECB Slashes Rates to Stimulate Weakening Economy

The European Central Bank (ECB) has reduced its interest rates by a quarter-point to 3%, marking its fourth rate cut since June, as it shifts to a more dovish stance amid weaker growth forecasts for the Eurozone. ECB President Christine Lagarde indicated that further rate cuts are likely, with the central bank dropping its commitment to maintain restrictive policy rates. The decision comes as the Eurozone faces economic challenges, including potential trade tensions with the US under Donald Trump's presidency. The ECB's growth forecasts for the coming years have been lowered, and investors expect more rate cuts compared to the US Federal Reserve.