The European Central Bank yesterday lowered the deposit facility rate by 25 basis points to 3.50 per cent.
The changes will take effect from September 18.
The bank estimates that the eurozone economy will grow by 0.8 per cent in 2024, rising to 1.3 per cent in 2025 and 1.5 per cent in 2026.
Headline inflation is projected to average at 2.5 per cent in 2024.