Wall Street stocks meanwhile were little changed, after hitting fresh records a day prior as leading chip-maker Nvidia's market capitalization topped $3 trillion.
"This meeting was not unexpected, but it has moved the dial for eurozone interest rate expectations," she said in a note."It also highlights how this next phase of monetary policy will not necessarily be a cutting cycle like we have seen in past history. There is unlikely to be a successive set of cuts," Brooks added.
ECB president Christine Lagarde then warned at a press conference that the path of future rate cuts was uncertain and that there would be"bumps on the road." "In that sense, the immediate tone is a 'hawkish cut.' This is not a central bank in a rush to ease policy," he added.The ECB began to hike rates to combat inflation in mid-2022, after the US Federal Reserve and the Bank of England, but it did not wait for its American and British peers to begin cutting them.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Central African Republic: U.S. Sanctions Two Central African Republic Companies Linked to Russian Wagner GroupThe U.S. imposed sanctions Thursday on two companies in the Central African Republic that support Russia's Wagner Group, the Treasury Department said.
Source: allafrica - 🏆 1. / 99 Read more »