# European Central Bank cuts interest rates again and lowers growth forecasts

> The ECB cut its deposit rate by a quarter point, its second reduction this year, and lowered its 2024 euro zone growth forecast to 0.8%. The central bank said it is not committing to a particular rate path and will decide meeting by meeting.

- Date: 2024-09-12 · published 2024-09-12T12:00:00.000Z
- Category: macro · region Europe · magnitude low
- Page: https://feedsoft.ai/events/28530-european-central-bank-cuts-interest-rates-again-and-lowers-growth-forecasts
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

Slower euro zone growth and a data-dependent ECB path shape the euro-dollar exchange rate, which affects the cost of dollar-priced feed imports for European buyers.

## Read by commodity

- EURUSD: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2022-10-26 | [ECB raises interest rates again, cuts bank subsidies \| Reuters](https://feedsoft.ai/events/39359-ecb-raises-interest-rates-again-cuts-bank-subsidies-reuters.md) | -0.9% | +4.1% |
| EURUSD | 2024-07-18 | [European Central Bank holds rates, says domestic price pressures high](https://feedsoft.ai/events/29484-european-central-bank-holds-rates-says-domestic-price-pressures-high.md) | -0.7% | +0.8% |
| EURUSD | 2019-10-29 | [Draghi leaves Lagarde to heal rift at European Central Bank \| Reuters](https://feedsoft.ai/events/56784-draghi-leaves-lagarde-to-heal-rift-at-european-central-bank-reuters.md) | +0.5% | -0.7% |
| EURUSD | 2025-04-14 | ['Attentive' ECB can lean against euro rise \| Reuters](https://feedsoft.ai/events/25337-attentive-ecb-can-lean-against-euro-rise-reuters.md) | +0.6% | -0.5% |
| EURUSD | 2024-07-26 | [How long can the Central Banks’ divergence last \| Amundi Research Center](https://feedsoft.ai/events/29488-how-long-can-the-central-banks-divergence-last-amundi-research-center.md) | -0.7% | +2.3% |

## Sources

- cnbc.com: https://www.cnbc.com/2024/09/12/live-updates-european-central-bank-interest-rate-september.html

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