ECB raises inflation forecast for 2024, 2025. Analysts say the quarter-point cut on Thursday would likely not usher in a swift series of further cuts as the bank waits to make sure inflation is under control while easing credit to help the economy. While inflation at an annual rate of 2.6% in May is well down from the peak of 10.6% in October 2022, the decline has slowed in recent months and inflation even ticked up slighly from 2.4% in April.
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