European Central Bank (ECB) Governing Council member Olli Rehn said on Friday that the slowdown in inflation alongside weakness in the Eurozone economy strengthened arguments to lower borrowing costs next month, per Bloomberg.
European Central Bank Governing Council memberOlli Rehn said on Friday that the slowdown in inflation alongside weakness in the Eurozone economy strengthened arguments to lower borrowing costs next month, per Bloomberg. Key quotes The growth outlook in Europe, especially manufacturing, is rather subdued. In my eyes, this enforces the case for a rate cut in September. We already have plenty of data to make our decision in September. Disinflation and a weak economy support a September cut.
The ECB Governing Council makes monetary policy decisions at meetings held eight times a year. Decisions are made by heads of the Eurozone national banks and six permanent members, including the President of the ECB, Christine Lagarde. What is Quantitative Easing and how does it affect the Euro? In extreme situations, the European Central Bank can enact a policy tool called Quantitative Easing.
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