ARTICLES LABELLED WITH TAG Eurozone

06
Jun
2024

ECB cuts interest rate for first time in 5 years

by Property Forum

The European Central Bank (ECB) has reduced its main interest rate from 4% to 3.75%, following Canada's rate cut earlier in the week. ECB President Christine Lagarde announced that the outlook for inflation had significantly improved, which enabled the rate cut. However, she warned that inflation would likely stay above the 2% target, averaging 2.5% in 2024 and 2.2% in 2025. The ECB remains committed to keeping its policy restrictive to achieve the inflation target. This rate cut, though anticipated, is seen as a relief for consumers and businesses, aiming to stimulate economic activity by making borrowing cheaper.

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Latest news

New leases

Rituals Cosmetics is making its debut in Częstochowa. Founded in Amsterdam in 2000, the cosmetics brand has just opened its first shop in the northern part of the Silesian voivodship in Galeria Jurajska. The new tenant has taken a 154 sqm unit.
At Galeria Młociny, owned by EPP and Echo Investment in Warsaw, new tenants have been signed since the beginning of the year and will occupy a total of more than 3,200 sqm of space. The fashion and footwear segment was expanded with Intimissimi Uomo, Garderoba Idealna and the Wojan Team concept. Other tenants include Rituals, Nanu-Nana, Action and gift shop Dreams&Gifts. Food and beverage tenants have been joined by Crepe & Co, Sakura - Ramen & Sushi and Greek House restaurants.
Alioth Group will join the tenant mix of the Varso Tower office building ion Warsaw. In the spring of 2025, the company will move into an office on the 44th floor.

New appointments

Krisztina Enzsöl has joined Knight Frank Hungary as Associate Director in the office division. She has over 24 years’ worth of experience in real estate, being specialised in office leasing. In addition, Enzsöl has extensive knowledge in both tenant and landlord representation.
Beginning of September this year, the Management Board at Avison Young's Polish branch underwent a change, with Monika Bronicka, Director, Head of Valuation and Advisory, Business Development, becoming a Member of the Board.
In September 2024, Ewa Andrzejewska took on the role of Chief Operating Officer of the Polish Chamber of Commercial Real Estate (PINK). In her new role, she will be responsible for co-creating and implementing PINK's strategy and further developing the organisation.

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