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Hasta la vista, baby
- Amid the current heightens economic and trade uncertainty, the ECB delivered, as expected, a 25bps rate cut, bringing its main deposit rate to 2.25%.
- The ECB meeting statement contains the most recent greatest hits, including an emphasis that the central bank will follow a "data dependent" and "meeting by meeting" approach.
- The expected downgrade to the global Outlook was further underlined by IMF Managing Director Kristalina Georgieva, who in a speech to its Annual Spring Meeting, laid out the broad stagflationary impacts of the current trade tensions.
- This place is the fed in a tight spot ahead of its monetary policy decision in May, a dilemma referred to by Chair Powell in remarks to the Economic Club of Chicago this week.
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