In today's interview with Bloomberg, European Central Bank (ECB) Vice President Luis de Guindos raised the issue of the euro's appreciation. He said that the EU currency's growth above the level of $1.2 is undesirable and could trigger further rate cuts.
European Central Bank (ECB) Vice President Luis de Guindos stated that the eurozone economy is slowing due to high uncertainty in international trade. GDP growth may nearly stall in the second and third quarters.
The European Union (EU) is prepared to approve a trade agreement with the United States that would impose a 10% tariff on many of the bloc’s exports. But EU demands reduced rates for key sectors including pharmaceuticals, alcohol, semiconductors, and commercial aircraft, Bloomberg reports.
According to a statement by ECB official Gediminas Simkus to Reuters, another interest rate cut will most likely occur later this year. He justifies his position by citing the financial regulator's lack of information, including trade outlook data.
An increase of the indicator value may contribute to the rise in quotes of EUR.
The EUR publication has been released
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