The decision in brief
The policy rate cut is by 0.25 percentage points to 3.5 per cent. If the inflation outlook remains the same, the rate can be cut two or three more times this year.
Inflation is close to the target and expected to remain so even in the slightly longer term. However, the outlook for inflation is uncertain.
GDP growth is weak and developments on the labour market are subdued, but unemployment is not expected to rise much further.
Policy rate
3.50%
Applies from 21 August 2024
Decision documentation
- Press release 20 August 2024: Policy rate cut by 0.25 percentage points to 3.5 per cent
- Monetary Policy Update August 2024
- Monetary policy decision August 2024, Policy rate decision
- Numerical data, Monetary Policy Update August 2024
- Slides from the press conference 20 August 2024
- Minutes of the Monetary Policy Meeting held on 19 August 2024
- Voting by the Executive Board on interest rate decisions
Next monetary policy decision?
The next monetary policy meeting will take place on 24 September 2024 and information on the monetary policy decision, including the policy rate, will be communicated the day after, 25 September 2024.
Thanks for your feedback!
Your comment could not be sent, please try again later