The European Central Bank (ECB) has lowered its main interest rate to 2.25% for the third time this year amid concerns over slowing growth and trade tariffs initiated by the U.S. The cut was anticipated by economists and aims to support the eurozone economy facing challenges from these border taxes. Traders predict further rate cuts from central banks globally. Jerome Powell, Federal Reserve Chairman, acknowledged tariff-induced inflation concerns and labor market impacts while hinting at potential future rate adjustments depending on economic performance.
The ECB has cut its main interest rate to 2.25% to combat slowing growth due to soaring tariffs and increased uncertainty in global markets.
Jerome Powell raised concerns over US tariffs potentially increasing domestic prices and suppressing hiring, which could necessitate adjustments in interest rates.
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