By Tom Fairless and Paul KiernanFRANKFURT--The European Central Bank lowered interest rates by a quarter point, beginning to reverse a historic series of rate increases and widening a policy gap with the Federal Reserve, which isn't expected to follow suit for months. The ECB said Thursday that it would reduce its key interest rate to 3.75% from 4%, its first rate cut in almost five years. "The Governing Council is not pre-committing to a particular rate path," the ECB said. The rate cut is a significant moment for investors and the world economy. Write to Tom Fairless at tom.fairless@wsj.com(END) Dow Jones NewswiresJune 06, 2024 08:35 ET (12:35 GMT)Copyright (c) 2024 Dow Jones & Company, Inc.

Source: Wall Street Journal June 06, 2024 12:47 UTC