Euro suffers further losses after ECB, focus on Trump tariff decision

ECB calls halt to quantitative easing, despite 'soft' euro

The ECB statement on Thursday indicated that it would end its bond buying program by the end of 2018 but added that it was unlikely that there would be any rise in interest rates before the end of summer 2019.

But he injected a note of caution by making the step "subject to incoming data confirming our medium-term inflation outlook".

"The Fed, barring any unexpected financial market calamity, is primed to raise interest rates every quarter while the European Central Bank will continue to sit on their hands well into 2019".

This comes after the European Central Bank announced in October previous year plans to halve its programme to €30bn a month of bond purchases with the scheme ending in September 2018 "or longer, if necessary".

Investors, though, seized on comments indicating that interest rates would stay at record lows at least through the summer of 2019, and some analysts believed it might be longer.

The euro was down 1.7 per cent against the dollar at $1.1592.

If ECB President Mario Draghi opts for a less optimistic tone in comments to the press this could prompt Euro exchange rates to slump sharply.

Based on this review, the Governing Council made the following decisions: First, as regards non-standard monetary policy measures, the Governing Council will continue to make net purchases under the asset purchase programme (APP) at the current monthly pace of €30 billion until the end of September 2018. Higher rates can stave off inflation, but they can also hinder economic growth.

E3 2018: The Elder Scrolls VI is real and in pre-production
But that wasn't the only news revealed by Bethesda , as Fallout 76 was confirmed to have a pre-release beta . Players will be one of the few chosen to stay in Vault 76 for twenty-five years waiting for Reclamation Day.

The size of the stimulus was enormous: At €2.7 trillion, it rivals the entire value of the French economy a year ago.

President Mario Draghi acknowledged the bloc's recovery had stuttered recently but said underlying growth remained strong.

Markets are on the lookout for clues from Bank of Japan governor Haruhiko Kuroda's post-meeting briefing at 6.30am GMT on how long the central bank could hold off on whittling down stimulus given stubbornly weak inflation.

"Uncertainties related to global factors, including the threat of increased protectionism, have become more prominent, the risk of persistent, heightened financial market volatility warrants monitoring", said Mr Draghi. However, one could imagine that it may have a weakening effect on the euro, especially in comparison with the United States dollars, where the Fed raised interest rates yesterday. It expects to raise rates two more times this year, from a range of 1.75% to 2% at present.

The euro had initially risen during the meeting, after the European Central Bank said it would phase out its financial crisis-era stimulus programme for the 19-country region by the year-end.

Instead markets will likely look to next week with the Bank of England (BoE) June policy meeting and the Eurozone's latest PMI figures in focus.

The free trade agreement with Canada does not ensure sufficient protection for Italy's speciality foods, new Agriculture Minister Gian Marco Centinaio said in a newspaper interview.

Related News:



Most liked

Second deputy dies after Kansas courthouse shooting
Friday while transporting two inmates from a court hearing in downtown Kansas City, Kan., back to the jail just across the street. They also said it was too early in the investigation to give specific details of how the shootings could have happened.

Poll shows most South Koreans view summit positively
The president said he gave Kim "a very direct number" and that the two leaders have the ability to communicate directly. He explained that millions of lives could be lost "if you go to war there".

California will vote to divide state into 3 parts in November
A radical proposal to divide California into three separate states will appear on the ballot across the Golden State in November. If we vote to split the state up into three, we will have six Democratic senators and that is untenable.

Denis Cheryshev stars as Russia rout Saudi Arabia in World Cup opener
Both sides tried to assert their dominance in the opening exchanges by holding onto the ball and dictating the tempo of the game. Gazinsky put home a header, and the Saudi Arabian goalie simply couldn't get to it despite a good effort.

Duchess Meghan Markle & Queen Elizabeth Avoid a Royal Mishap at Their Car
They travelled by the Royal Train overnight, and are expected to attend a series of events throughout the day. But nope, they made a decision to go back to the place where they had their first vacation together: Africa.

Japan PM vows to resolve abduction by holding talks with Kim
Several Japanese media outlets said Kim had expressed a readiness to meet Abe when he held a summit with Trump. North Korea's propaganda machine played the clip over and over - as did American cable news networks.

One North Korea Negotiator's Advice For President Trump
Kim and Trump are scheduled to meet alone, with their interpreters, after greeting each other at the resort. Only after that initial personal session will national security officials join the meeting.

Fortnite For Nintendo Switch Allegedly Hits Tomorrow, The Question Is When?
A new entry in the popular Mario Party series, which blends video game and board game together, will be released on 5 October. You won't have to wait very long at all to get to grips with it, as it will be made available on the Nintendo eShop today.

Trump thanks Singapore for hospitality and friendship, Latest Singapore News
Trump said that he and Kim would be meeting again, though he offered no timeline for when that might happen. The US side however reportedly believes that an immediate tangible outcome is unlikely following the meet.

North Korea sanctions to 'remain in effect’
Bolton in turn called the description "the highest accolade I received during all my service in the Bush years". Overall, the post-summit statements from Trump and Kim are "bold" yet lack detail, reports the Times .

Rodman Cries on Television After Trump-Kim Handshake
The country has diplomatic ties with both North Korea and the US. If you like this story, share it with a friend! Trump said the meetings are going on well.

Ex-Trump campaign chair Paul Manafort, Russian associate hit with obstruction charges
Read on for a look at Manafort's work with the Trump campaign and how he is connected to the Russian Federation investigation . Mueller also accused Manafort of secretly paying former European politicians to lobby on behalf of Ukraine.

Guardiola: 'I'll never manager Barca again'
Do you believe that Barcelona could have done that with (Andres) Iniesta? I came to wonder if it was not because of my colour. The midfielder had to wait until City's final home game of the season against Brighton for his first start of the season.

Bethesda Confirms Elder Scrolls VI and New Franchise, Starfield
The game is going to be optimized for both platforms and will offer the same experience as it did on mobile devices. You can play the game solo, but with multiplayer as an option - open world, survival, and every person is real.

India, China strike deals on Brahmaputra river, rice as relations thaw
Luo said it was the 14th meeting between the two leaders over past four years. He held bilateral meetings with the Presidents of Uzbekistan and Tajikistan.