The European Central Bank is releasing its its decision on interest rates and a rate cut is a foregone conclusion.
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A half-point cut “would be a security move to preempt any potential risks for the eurozone economy coming from the next U.S. administration’s potential economic policy choices and political woes in France and Germany,” said Carsten Brzeski, chief eurozone economist at ING bank. All that has dinged the confidence that businesses need to borrow, invest, expand production and take risks. The survey index of purchasing managers compiled by S&P Global came in at 48.3 in November, with levels below 50 suggesting the economy is slowing. The Sentix survey of investor confidence fell in its first update after the U.S. election, by 4.6 points to minus 17.5.from its peak of 10.
Yet that also presents a danger in that those same high rates could stall the EU's goal of more vigorous economic growth.
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