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周四,欧洲中央银行将利率从3.75%下调至3.50%,理由是通胀和经济形势的缓和使其能够略微放松政策立场。这是三个月内的第二次降息,标志着在去年因应几十年来最高通胀水平而大幅加息后的政策逐步正常化。

(欧洲央行利率决议,来源:Investing.com)
根据欧洲央行的说法,基于管理委员会对通胀前景、潜在通胀趋势以及货币政策传导效果的更新评估,现在适宜采取进一步放松货币政策限制的措施。央行并未明确表示10月份会进一步降息,但承认国内通胀仍然较高。然而,欧洲央行指出,劳动力成本压力正在缓解,企业利润部分抵消了更高工资对通胀的影响。
此外,银行通过每周拍卖从欧洲央行借款的利率下调幅度更大,从4.25%降至3.65%,这与此前减少使用该工具的处罚决定相一致。而每日现金拍卖利率也从4.50%降至3.90%。货币市场预计还会有几次类似规模的降息,到2025年6月时,存款利率可能降至2.0%至2.25%。

(欧洲央行存款便利利率,来源:Investing.com)
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