Anyone hearing of huge gap downs in cable and eurusd? I'm hearing EU below 1.3500 and cable dropped 160 pips.
IMF would support ECB rate cut as growth slows
The International Monetary Fund would support an ECB interest rate cut as euro zone growth is slowing sharply while there are practically no inflation expectations, the head of the IMF's European department said. After two rate rises in the first half of the year which took borrowing costs up to 1.5 percent, the ECB has signaled a pause in the tightening cycle but many economists expect the bank's next rate move would actually be a rate cut. The IMF seemed to share this sentiment. "Monetary policy might be less focused on inflation," Antonio Borges told a news conference. "Inflationary fears right now are practically ... (full story)