India, June 5 -- The European Central Bank slashed its interest rates by 25 basis points on Thursday, in line with expectations, while the staff trimmed the euro area price growth projections for this year and next citing prospects of lower energy prices and a stronger euro going forward.
The Governing Council, led by ECB President Christine Lagarde, lowered the deposit facility rate by a quarter basis point to 2.0 percent. The refinancing rate was cut to 2.15 percent and the marginal lending rate to 2.40 percent.
The ECB has cut interest rates by a quarter basis points each in every rate-setting session since September.
"The Governing Council is determined to ensure that inflation stabilizes sustainably at its 2 percent medium-term targ...