ECB cut rates to avoid damage to economy, meeting minutes show

The European Central Bank cut interest rates last month to avert unnecessary damage to the economy, with policymakers taking the view they could pause a December cut if activity picked up, minutes of the meeting show.

The central bank’s governing council gave unanimous support to October’s decision to cut rates by 0.25 percentage points to 3.25 per cent, arguing that “the disinflationary trend was getting stronger” and that it was important to avoid “harming the real economy by more than was necessary”.

Source: Financial Times