The European Central Bank has trimmed its benchmark interest rate to a record low of 0.05 per cent, from 0.15 per cent, due to economic worries throughout Europe. ECB monetary stimulus is likely on the horizon in an attempt to boost economic activity. This will affect bond yields and serve to keep long term European borrowing costs at record lows for some time. The Euro is down to its lowest level against the U.S. dollar since July 2013, currently trading at $1.30 U.S. Draghi hopes the devaluation of the Euro will stimulate trade with global partners....Look for a further devaluation of the Euro over the next few months.
Posted on: Thu, 04 Sep 2014 14:20:38 +0000
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