on the 12th local time, the European Central Bank held a monetary policy meeting at its headquarters in Frankfurt, Germany and decided to cut all three key interest rates by 25 basis points. This is also the fourth interest rate cut by the European Central Bank this year since it announced a rate cut in June. According to the latest interest rate resolution released by the European Central Bank, the deposit facility rate is reduced to 3.0%, the main refinancing rate is reduced to 3.15%, and the marginal lending rate is reduced to 3.40%.