The European Central Bank (ECB) has reduced interest rates by a quarter point for the eighth consecutive time to bolster the euro economy during ongoing trade conflicts with the U.S. ECB policymakers express cautious optimism, with some members suggesting a pause in rate cuts to gather more data on the trade war's impact. Meanwhile, trade commissioner Maroš Šefčovič emphasizes the importance of cooperation between the EU and the U.S. to avoid making global supply chains less competitive amid rising trade tensions.
In particular, the decision to lower the deposit facility rate - the rate through which the governing council steers the monetary policy stance - is based on its updated assessment of the inflation outlook, the dynamics of underlying inflation and the strength of monetary policy transmission.
I am an eternal optimist, and I think we've been having our ups and downs... And therefore I think that here [we should] focus on the results, to be patient and to simply have a strategy.
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