The European Central Bank cut its key interest rate to 2.75%, marking its fifth consecutive reduction, as President Christine Lagarde acknowledged the eurozone's weak growth. Lagarde stated today that the ECB's policy remains 'restrictive,' which is hindering economic recovery. Meanwhile, the Federal Reserve maintained its rate at 4.5-4.75%, opting for a cautious approach due to strong economic indicators and above-target inflation. Chair Jerome Powell emphasized that the Fed doesn't need to rush into further cuts, predicting potential reductions could come as late as mid-year, depending on inflation trends and economic data.