The recent decision by the European Central Bank (ECB) to lower interest rates to 3.75 per cent is likely to be welcomed by most, both as an indication that inflation is slowing to a more manageable pace and that economic growth is firmly back on top of the agenda in the Eurozone. 

However, for private client practitioners and trustees operating with euro-denominated clients and corporate structures, it may well lead to practical challenges, particularly when it comes to managing cash deposits and executing fiduciary duties for their clients.