International News
The ECB on Wednesday cuts its inflation and growth forecasts for 2015 and the next two years. Draghi said Europe’s economic recovery would continue, albeit of a somewhat weaker pace than expected. The latest ECB forecast for economic growth in the Eurozone is 1.4% in 2015 down from 1.5% and 1.7% in 2016 down from 1.9%
EUR/USD opened yesterday at 1.1235 and had little movement following the decision of the ECB to keep interest rates on hold in line with market expectation. The pair fell sharply following Draghi’s comments that the bank could expand its stimulus programme if necessary and extend beyond September 2016, with the pair falling over a cent against the dollar to 1.1127. Draghi admitted that inflation could turn negative in the coming months [...]
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