FRANKFURT, June 6 — The European Central Bank is expected to start cutting interest rates from record highs today, its first reduction in nearly five years, but volatile...
How did Malaysia’s ringgit bounce back 3.4pc in four months to the Singapore dollar and will its rise continue?
Rates have been on hold since October, but it is a near certainty the central bank will reduce borrowing costs by a quarter percentage point Thursday, taking its key deposit rate to 3.75 per cent.The move will also mark the ECB diverging from the US Federal Reserve, which has also hiked rates aggressively but is not expected to start cutting until later due to stronger-than-expected data.
Data last week showed that inflation in the 20 countries that use the euro rose in May, and faster than expected — to 2.6 percent on year, up from April’s 2.4-percent increase. The central bank will also release its own updated forecasts for growth and inflation on Thursday, which will feed into rate-setters’ debate about their next move.
Eurozone Inflation European Central Bank
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