European Central Bank cuts interest rates to support eurozone economy

The European Central Bank has made a further interest rate cut, reducing the main deposit rate to 3.25% from 3.5%. This marks the third rate cut this year, with the aim of stimulating economic growth in the face of a slowdown. Germany, the region's largest economy, is expected to experience minimal growth of 0.1% this year, according to the Organisation for Economic Co-operation and Development (OECD). Inflation in the 20-nation region has also fallen, dropping to 1.7% in September from 2.2% in the previous month, further indicating a recession in Germany and a decrease in inflation across the bloc.