ECB Cuts Rates Again to Buffer Economy from US Tariff Hit
The European Central Bank cut interest rates for the seventh time in a year on Thursday, looking to prop up an already struggling euro zone economy that will take a knock from US tariffs.
Policymakers were unanimous in approving the cut on Thursday, as even some of the more hawkish rate setters agreed that a global trade war has significantly altered the outlook, a source told Reuters.
Germany’s 2-year bond yield was last flat at 1.75 per cent, having traded around 1.807 per cent earlier .Europe’s broad STOXX 600 index was down 0.3 per cent (.STOXX), holding lower on the day.
Source: Reuters
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