This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribeto 3.25%, as markets had expected. That's its third 25-basis-point cut this year, the first time since December 2011 it's reduced rates at consecutive meetings. The ECB's Governing Council called the process of disinflation"well on track.
. That's higher than both the 0.1% gain in August and the 0.3% Dow Jones forecast, according to the advance report. In more positive economic news, initial jobless claims for the week ending Oct. 12 dropped 19,000 from the week before to 241,000. Those reports reinforce the maxim: Don't bet against the American consumer.
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