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- ECB’s Stournaras: A 25 bps December rate cut is the right response to trade tariffs
ECB’s Stournaras: A 25 bps December rate cut is the right response to trade tariffs
European Central Bank (ECB) Governing Council member Yannis Stournaras said on Thursday that “trade tariffs are likely to provoke a response. And a 25 basis points (bps) rate cut in December is the right response.”
Additional quotes
We should cut every meeting until rates reach 2%.
The neutral rate on average is about 2%.
It's too soon to say if ECB needs to go below neutral.
Market reaction
At the time of writing, EUR/USD is testing intraday lows at 1.0515, down 0.25% on the day.
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