Forex
FRANKFURT (Reuters) - The European Central Bank cut interest rates for the first time in five years on Thursday but kept investors in the dark about its next move given increasing uncertainty over inflation after a sharp slowdown in the past year.
The ECB lowered its record-high deposit rate by 25 basis points to 3.75%, joining the central banks of Canada, Sweden and Switzerland in starting to unwind some of the steepest rate hikes used to tame a... (continue reading...)
The Governing Council today decided to lower the three key ECB interest rates by 25 basis points. Based on an updated assessment of the inflation outlook, the dynamics of underlying inflation and the strength of monetary policy transmission, it is now appropriate to moderate the degree of monetary policy restriction after nine months of holding rates steady. Since the Governing Council meeting in September 2023, inflation has fallen by more than 2.5 percentage points... (continue reading...)
Investing.com - The U.S. dollar steadied in early European trade Thursday, while the euro gained ahead of the latest policy-setting meeting by the European Central Bank.
At 04:00 ET (09:00 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, rose marginally to 104.265.
Dollar on the back footThe dollar has steadied Thursday, but has been trading largely on the back foot this week, weighed in part by the benchmark U.S. 10-year... (continue reading...)
By Rae Wee and Alun John
SINGAPORE/LONDON (Reuters) -The euro held firm on Thursday ahead of the European Central Bank's policy meeting, where traders will focus on rate setters' remarks on the future path for policy as a cut at this meeting is a done deal.
Central banks were in focus, as they have tended to be in recent months, with the Canadian dollar firming a little after having weakened into the Bank of Canada's Wednesday meeting when... (continue reading...)
BOC Cuts Key Interest Rate 25 Bps To 4.75%, Matching Estimate
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