ECB makes quarter point cut amid ‘exceptional uncertainty’
Lagarde says anyone who thinks world is “shock-free” needs “their head examined”
The European Central Bank today (April 17) cut rates by 25 basis points.
The bank’s president, Christine Lagarde, said the ECB’s economic outlook was “clouded by exceptional uncertainty” given the upending of international trade by US president Donald Trump.
Strikingly, the bank removed any references to the degree of restrictiveness of its monetary policy. At its previous meeting, it had changed the reference from its policy “remaining restrictive” to being “meaningfully less restrictive”. The
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