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

The Nike brand has joined the group of tenants at Warsaw's Wola Park shopping centre. The chain's new outlet took up an area of over 1,000 sqm. The store has been opened using the Nike Rise concept.
The Venezia brand will join the group of tenants of Gemini Park Tarnów (southern Poland). The chain's first shop in the city will occupy an area of 130 sqm.
Lipton Teas and Infusions will lease more than 1,300 sqm of office space in the Global Office Park complex in Katowice (Silesia, southern Poland), developed by Cavatina Holding.

New appointments

Tomasz Chojnacki has taken up the position of Deputy Head of the Office Department of CBRE Poland. In his new role, he is responsible for the management and development of the office sector and the development of a coherent business plan for all services for clients in this market segment.
Mantor E2K, a company specialized in industrial and logistics constructions, has appointed Radu Vlad as its Business Development Manager. He brings over 20 years of experience in industrial and real estate project development to the role, having coordinated projects with a combined value exceeding €180 million.
At the beginning of February, Michał Chodecki became the head of the Warehouse & Logistics department of Savills Poland. The new director is responsible for the strategy and direction-setting of this business line and building relationships with key clients.

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