The Vienna Stock Exchange closed slightly lower on Thursday following the ECB‘s key interest rate cut. After a morning in the profit zone, the ATX went around the previous day’s close in the afternoon. At the close of trade, the minimum home front index was 0.06 percent lower at 3,611.02 units and the broader ATX Prime fell 0.09 percent to 1,804.27 points. On the European stock exchanges, however, there were price increases.
The biggest highlight of the trading day was the ECB’s interest rate cut. The deposit interest rate that banks receive for funds parked with the ECB, which sets the trend on the financial market, is reduced by 0.25 percentage points to 3.25 percent. Market participants had expected a decline of this magnitude.
This was the third interest rate cut this year. The ECB has left open whether the interest rate staccato will continue in December, as many experts think. “We will continue with a data-driven approach,” ECB President Christine Lagarde said.
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