Almost two years after its interest rate-raising cycle began, the European Central Bank made its first cut on Thursday. The quarter-point drop from 4 to 3.75 per cent, which president Christine Lagarde had teed up in recent months, will give European borrowers some relief. The ECB followed through with what it had indicated, which matters for the credibility of the institution. It also made a pragmatic, precautionary move.
开启加息周期近两年后，欧洲央行(ECB)周四进行了首次降息。利率从4%下调0.25个百分点至3.75%——欧洲央行行长克里斯蒂娜•拉加德(Christine Lagarde)近几个月多次预告了此举——将让欧洲借款人能够喘口气。欧洲央行兑现了其之前预告的举措，这对该机构的可信度很重要。此举也是务实和预防性的。