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ECB Holds Rates Steady While US Jobless Rate Rises
The European Central Bank left interest rates unchanged for a fourth meeting as a softer outlook for inflation and economic growth bolstered expectations for cuts starting in June. Separate data showed the euro-area economy stagnated at the end of last year, underscoring the central bank’s forecast for slower growth in 2024 than previously estimated. In the US, the unemployment rate climbed to a two-year high in February even as hiring remained healthy, pointing to a cooler yet resilient labor market. In Japan, inflation in Tokyo last month surged back above the central bank’s target, bolstering the case to raise ... (full story)