Our monetary policy statement at a glance - April 2025
What did we decide?
We cut our key interest rates by 0.25 percentage points
We did this because inflation is on track to settle at around our 2% target.
What is going on in the economy?
Uncertainty about how the economy will develop is exceptionally high
Tensions over global trade and the related big swings in financial markets are clouding the outlook for the economy.
Many parts of the economy are feeling the strain
New trade barriers make it more difficult for Europe to sell its exports. Companies may invest less because of trade tensions around the world and the stress in financial markets. Consumers are more concerned about the future and are cautious about their spending.
Europe鈥檚 economy has built up some strength that will help it cope with the strain
People have higher incomes to spend. Manufacturing is doing a bit better. Governments and the EU have taken important steps to invest more, for instance in infrastructure and defence.
The job market is strong
Unemployment is now the lowest it has been since the start of the euro. Wages are still going up, but more moderately.
Inflation keeps coming down
Energy prices have fallen again. Services prices are no longer going up so strongly. Inflation is expected to settle at around 2%. But trade tensions make the outlook for prices more uncertain.
Look at the details
MONETARY POLICY DECISIONS
Here is what the Governing Council decided about the ECB`s interest rates and instruments at its latest meeting.
Press releaseMONETARY POLICY STATEMENT
Read our explanation of the reasons behind the latest monetary policy decisions.
Monetary policy statement