The European Central Bank has reduced interest rates from 3.25% to 3% for the fourth time this year, citing stabilizing inflation in the eurozone. Last year, rates were raised to combat soaring inflation driven by high energy prices. While the average eurozone inflation is currently 2.4%, the Netherlands faces a higher rate of 3.8%. Despite the rate reductions, concerns remain about the European economy, particularly within the manufacturing sector, where automakers are considering factory closures and layoffs due to increasing global competition.

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