南财快评丨欧央行再降息，或意在刺激投资对冲美国关税

Core Viewpoint - The European Central Bank (ECB) has lowered its key interest rates by 25 basis points, marking the eighth rate cut since March of the previous year, in response to increasing pressures on economic growth due to global uncertainties [1][3]. Group 1: Interest Rate Changes - The ECB's deposit facility rate, main refinancing rate, and marginal lending rate have been reduced from 3.75%, 4.25%, and 4.5% to 2.00%, 2.15%, and 2.40% respectively [1]. - This decision reflects the ECB's ongoing efforts to maintain price stability and support economic growth amid geopolitical developments and global financial imbalances [1][4]. Group 2: Economic Indicators - The inflation rate in the Eurozone decreased from 2.2% in April to 1.9% in May, with a projected average inflation rate of 2.0% for 2025, down by 0.3 percentage points from March [3]. - The ECB forecasts a GDP growth rate of 0.9% for this year, with projections of 1.1% and 1.3% for the following two years [3]. - The unemployment rate in the Eurozone is estimated to be 6.2% in April 2025, the lowest since the euro's introduction, with a 0.3% increase in employment numbers in the first quarter of this year [3]. Group 3: Policy Implications - The ECB's rate cut is interpreted as a measure to counterbalance the impact of U.S. tariffs, especially given the lack of substantial consensus on tariff issues between the U.S. and Europe [3][5]. - ECB President Lagarde emphasized the need for investment stimulation through low interest rates, indicating that supportive policies are likely to be implemented soon [5]. - The ECB aims to simplify and encourage capital inflow into Europe, whether through returning European investments or attracting non-European investments [4].