# VIEW ECB delivers second rate cut of the year

> The ECB cut its deposit rate by 25 basis points to 3.50%, its second cut of the year. Inflation is close to the 2% target and the domestic economy is barely avoiding recession.

- Date: 2024-09-12 · published 2024-09-12T12:00:00.000Z
- Category: macro · region Europe · magnitude low
- Page: https://feedsoft.ai/events/28528-view-ecb-delivers-second-rate-cut-of-the-year
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

Lower euro-area rates narrow the interest rate gap with the US, which can weaken the euro and influence dollar-priced commodity costs for European importers.

## Read by commodity

- EURUSD: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2024-09-12 | [ECB dents traders' hopes for October rate cut](https://feedsoft.ai/events/28527-ecb-dents-traders-hopes-for-october-rate-cut.md) | +0.9% | -0.6% |
| EURUSD | 2021-01-28 | [ECB despot rate cut isn't the way to counter Euro strength – IIF — Octa](https://feedsoft.ai/events/49381-ecb-despot-rate-cut-isn-t-the-way-to-counter-euro-strength-iif-octa.md) | -0.6% | +1.1% |
| EURUSD | 2022-08-29 | [Dollar eases off of 20-year high as euro boosted by rates view \| Reuters](https://feedsoft.ai/events/40214-dollar-eases-off-of-20-year-high-as-euro-boosted-by-rates-view-reuters.md) | +0.3% | -3.8% |
| EURUSD | 2025-09-11 | [Traders raise bets that the ECB is done cutting rates \| Reuters](https://feedsoft.ai/events/23093-traders-raise-bets-that-the-ecb-is-done-cutting-rates-reuters.md) | +1.1% | -0.9% |
| EURUSD | 2023-10-26 | [ECB snaps rate-hike streak, pushes back on talk of cuts \| Reuters](https://feedsoft.ai/events/33839-ecb-snaps-rate-hike-streak-pushes-back-on-talk-of-cuts-reuters.md) | -0.4% | +3.3% |

## Sources

- reuters.com: https://www.reuters.com/markets/rates-bonds/view-ecb-delivers-second-rate-cut-year-2024-09-12/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.