Danish central bank expected to mirror ECB and cut key rate

"We expect Denmark's central bank to match the rate cut by ECB one-to-one, but the entire package from ECB could be tough to match", Sydbank's chief analyst Soren Kristensen said in a note, referring to other expected easing measures by the euro zone's central bank. Inflation has begun to fall, the continent is feeling the effects of the trade war between China and the USA, and Germany, Europe's largest economy, has been teetering on recession.

U.S. President Trump reacted negatively. And the Fed sits, and sits, and sits.

ECB policymakers met at the bank's headquarters in Frankfurt on Thursday.

Interest rates were cut by 0.1% to their lowest ever level of -0.5%, and the bank will start purchasing €20 billion worth of bonds each month from November.

The central bank also extended a promise to keep rates at record lows for as long as necessary.

The financial group lowered rates on the deposit facility by 10 basis points.

"At first glance, the European Central Bank has not quite thrown the kitchen sink at the eurozone economy", said Ranko Berich, head of market analysis at Monex Europe.

Lagarde is set to take the reins on October 31 - the date now set for Brexit.

The pound initially jumped 0.3 per cent against the euro on the news to hit €1.1239, as the single currency registered a sharp fall. While the European Central Bank has a target for inflation of below, but close to, 2% over the medium term, inflation has remained muted amid weaker economic growth.

'It is clear that without fiscal stimulus, Draghi's final stunt will not necessarily lead to a happy end'.

ECB President Mario Draghi made the announcement Thursday to address the growing instability in the European economy.

Eurozone growth slumped to 0.2% in the second quarter of 2019, from 0.4% in the first three months of the year, while some economies, including Italy and Germany, have come close to the brink of recession in recent months.

'But let's face it, neither of them truly think [exchange rates are the target] and this is more of a case of a central banker being drawn into a political argument that he'd rather steer clear of, ' said Craig Erlam from Oanda.

Related News:



Most liked

Nintendo's Ring Fit Adventure is like Wii Fit for the Switch
Ring Fit Adventure will launch on October 18 for $79.99 (UK price TBA), including a copy of the game, a Ring-Con, and a Leg Strap. This mode is a great way to target a muscle group the player wants to improve, like legs, shoulders, lower body or core.

September Democratic debate: Everything you need to know
Univision News will also livestream the debate on its digital platforms, including Facebook , YouTube and Periscope. Candidates will be given one minute and 15 seconds to answer questions and 45 seconds for responses and rebuttals.

Husband and wife fugitives wanted for murder are captured in Arizona
Blane Barksdale, 56, and Susan Barksdale, 59 , escaped in Utah on August 26 while being extradited from upstate NY to Arizona . The Barksdales are charged in the Arizona murder of Frank Bligh , 72, whose body has not been found.

NASA joins ISRO to track Vikram 'calling home'
DSN supports both NASA and non-NASA missions that seek to explore the furthest points of our solar system. "India failed. It is keenly awaiting for 3D mapping and sharp images of the south pole region of Moon.

Apple may steal Netflix streaming crown, but only for a year
They closed this afternoon at over $223, pushing this company's market capitalization back over the $1 trillion mark . The company was very aware that there were plenty of people who still weren't buying an XR because of what it cost.

Trump says October hike in China tariffs delayed 2 weeks
US-China trade tensions intensified earlier this month when Washington and Beijing imposed further tariffs on each other. He said the delay had been requested by China, and also follows a move by Beijing to scrap some USA tariffs.

Teen girl believes every day is June 11 after head injury
Sarah said her daughter has no idea that her brother passed away last week. "I'm not making memories." said Riley. Riley, second from left, with her cheer squad. "And I am not okay with that", Sarah Horner said.

Trump calls on Fed to cut interest rates to zero 'or less'
The policy is meant to account for extremely weak economic conditions by essentially charging banks to hold reserve deposits at the Fed.

Dorian's toll: Bahamas officials say 2500 missing in storm's wake
Department of Homeland Security issued guidance saying Bahamians arriving to the United States by sea needed a visa. At a port in the island, more than 250 residents were boarding on a ship to evacuate to the capital Nassau.

When should men get a prostate cancer screening?
A simple blood test to spot aggressive prostate cancer could save thousands of men undergoing needless biopsies and treatment. Additionally, the number and type of CTCs present in the blood was also indicative of the aggressiveness of the cancer.

Nigerian nationals evacuated from South Africa
Nigeria isn't the only African nation evacuating its nationals from South Africa in the wake of the xenophobic attacks . But there is also high unemployment in the country and some people feel foreigners are taking their jobs.

Control DLC Image Teases Alan Wake-Focused Expansion
In these Expeditions , you will help Security Chief Arish explore a odd Formation and its unusual surroundings. Coming first, in Fall 2019, is a Photo Mode , followed by the Expeditions game mode in December.

Pierce Brosnan wants the next James Bond to be a woman
"He was written as a male and I think he'll probably stay as a male", Broccoli told The Guardian last October. The #MeToo movement has been relevant and significant and well needed in our society", he said.

Juul Warned by FDA Over Marketing Practices
First lady Melania Trump says she is anxious about the "growing epidemic " of e-cigarette use among USA adolescents and teens. The FDA also issued a letter to JUUL requesting more information its marketing practices and its impact on public health.

9/11 victim's son blasts Omar at Ground Zero memorial service
The sick also gained new recognition this year at the World Trade Center site, where a memorial glade was dedicated this spring. Vice President Mike Pence is the keynote speaker at the Flight 93 National Memorial near Shanksville in western Pennsylvania.