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Economist Weekly Market View
- The recent ECB Forum on Central Banking saw the heads of the main central banks espousing similar musings on the economic outlook and the elevated level of uncertainty that currently prevails.
- With a large degree of this uncertainty originating from the US, especially in relation to tariffs and trade, the US Federal Reserve (Fed) adopted a wait-and-see approach.
- Indeed, for the fourth consecutive meeting, the ECB cut rates by 25bps in June.
- In terms of the BoE, having cut rates in May, it maintained its official interest rate at 4.25% in June. Once again, there was no unanimity within the BoE, with three members voting for a 25bps rate cut in June.
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