In February, annual consumer price growth was 39.05%, which was the lowest since June 2023. The central bank stressed that it will continue to adhere to a tight monetary policy until price stability is achieved. Further steps to change the rate will depend on economic data. The regulator's goal is to reduce inflation to 5% in the medium term.
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On the same day, the European Central Bank also announced a reduction in key interest rates. The main rate was reduced by 0.25 percentage points to 2.65% per annum, the deposit rate decreased to 2.5%, and for short—term loans - to 2.9%. This decision was based on updated inflation forecasts and an assessment of the effectiveness of current policies. The next ECB meeting to discuss rates is scheduled for April 17th. The new rates will take effect on March 12, 2025.
Last week, we talked about the decline in annual inflation in France to a minimum over the past few years. A similar trend is observed in other countries of the European region.
