ECB brings run of 10 rate hikes to an end as recession fears grow
The ECB has finally brought its run of 10 consecutive rate hikes to an end as growth across the bloc looks set to slow.
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The ECB has finally brought its run of 10 consecutive rate hikes to an end as growth across the bloc looks set to slow.
The European Central Bank ended a string of rate hikes that had begun in July of last year by leaving interest rates unchanged. Despite the decision not to raise rates once again, the European Central Bank's key deposit rate remains at 4%, which is the highest level in the bank's history.
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Most economists still believe that the Federal Reserve will lead the rate-cutting parade. But as Europe weakens, the pressure to cut rises.