Posted on 04/17/2025 10:39:24 AM PDT by Olog-hai
The European Central Bank has cut interest rates for the seventh time in a year, looking to prop up an already struggling economy that will take a large hit from US tariffs.
The bank announced a cut of one-quarter of a percentage point, which brings its benchmark deposit rate down from 2.5% to 2.25%.
The move will immediately benefit tracker mortgage customers and put downward pressure on other rates.
The ECB has been lowering borrowing costs as post-pandemic price pressures retreat and recent trade-related turmoil on global markets is adding to the case for further policy easing. […]
While US President Donald Trump has paused most tariffs, many remain in place and volatility in financial markets has already done damage to the economy.
This led the vast majority of economists polled by Reuters to expect today’s cut, which lowered the rate that the ECB pays on bank deposits by 25 basis points to 2.25%.
This is the top of the 1.75%-2.25% range that the ECB has defined as “neutral”, neither boosting nor restricting economic activity. …
(Excerpt) Read more at rte.ie ...
Is “Too Late” going to take action?
Wanna bet a trade deal isn’t far away?
And our Fed just ruled them out. Again. But they had no problem lowering them on worse fundamentals to help Biden.
A lot of your senior government folks are outright political hacks.
They are appointed.
They are hired with the implied purpose to do their masters bidding.
Without oil transactions, the currency is not useful. It was envisioned as a new dollar instrument in the oil trade.
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