ECB is said to cut outlook by enough to warrant new loans - BBG • ECB is said to debate maturity, interest rate of new loans
#ECB IS SAID TO CUT OUTLOOK BY ENOUGH TO WARRANT NEW LOANS - BBG *ECB IS SAID TO DEBATE MATURITY, INTEREST RATE OF NEW LOANS *ECB IS SAID TO HOLD DISCUSSIONS ON DESIGN OF NEW TARGETED LOANS *ECB IS SAID TO CUT INFLATION PROJECTIONS THROUGH 2021
Initiating TLTROs have been in discussion by the ECB since January '19 and have gained consideration since. This "news" should have been anticipated and hedged. As per the "news" release serving as a counter for the U.S. trade data, the negative U.S. economic data has been printing for awhile and ignored.
Really guys, you should consider a Ban on the use of the term "Currency Manipulation" in these threads. LoL
Its constantly misused to feed into some folks bizarre conspiracy theory narratives that fail respect normal definitions and terminology.
Currency Manipulation is a very specific term applied to DIRECT Fx market intervention to buy or sell reserves in order to influence real time exchange rates to create trade advantage for the intervening country. Between 2003 and 2014, 20 countries were identified as engaging in Currency manipulation. Most notably in US$ terms was China.
However since 2015 there has been no evidence of further Chinese Currency manipulation. Explaining why despite being labeled (politically) as "Manipulators" by the current US Administration that bird dont fly any more. Ironically US is now trying to tie China trade negotiations into a new round of Currency Manipulation.. this time to have China to again INTERFERE with Fx markets but this time to artificially advantage $USD. Ironic? LoL.
In the Euro context Currency Manipulation its entirely meaningless. Germany/France/Italy Spain etc as an EZ19 members cannot be "Currency Manipulators" since they use a common currency ..the Euro... which is managed independently by the ECB. ECB "doesnt do" direct intervention.
However some folk confuse the Fx issue with dynamic of fair value exchange levels BETWEEN different countries within EZ. In many ways similar to similar interstate economic disparities that exist in USA. But thats an INTERNAL matter for the EZ.
Sources: To numerous to list. But couple of useful links to non-partisan understanding Currency Manipulation here: