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US tariffs could weigh on ECB

The ECB leaves its key interest rate at 0.25 per cent.

Centtrip: D-day for Trump impeachment, no-deal Brexit still likely

In case you were getting excited about news from Frankfurt, Stephen Hubble, chief Analyst at Centtrip, underlines the fact that the ECB is “unlikely to make any drastic monetary path changes” today.

“The data from the single bloc has shown no signs of improvement since the Central Bank’s meeting in March. With no rate rises scheduled until at least 2020… the ECB is unlikely to divert from its current wait-and-see stance.

“However, with the US announcing the potential for tariffs on $11bn worth of EU goods, including aircraft, olive oil and wine, this could be a precursor to further tariffs on European cars – something the bloc could certainly do without.”

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