LONDON – The European Central Bank, which sets interest rates for the 20 countries that use the euro currency, does not expect the bloc to slide into recession as it cut borrowing costs once again Thursday in the wake of recent data showing inflation across the bloc falling to its lowest level in more than three years, and economic growth waning.
The bank’s rate-setting council lowered its benchmark rate from 3.5% to 3.25% — its third reduction since June — at a meeting in Llubljana, Slovenia, rather than its usual Frankfurt, Germany, headquarters, and said the “disinflationary process is well on track.”
According to revised figures on Thursday, inflation …