ECB and Fed could match rate cuts in 2024, says fintech CEO

The European Central Bank (ECB) recently kept interest rates at their current levels but indicated that the September meeting is “wide open” as it downgraded its economic outlook for the eurozone and predicted continued falling inflation.

ECB President Christine Lagarde said that risks to growth are now “tilted to the downside,” signalling a potential rate cut in September.

Lagarde also stated that growth likely slowed in the second quarter, with weak investment and industrial output suggesting muted future expansion.