ECB's Kazaks expects more rate cuts if current economic trajectory holds, Bloomberg News reports
March 27 (Reuters) - The European Central Bank could lower borrowing costs further if the current economic trajectory is maintained, Governing Council member Martins Kazaks told Bloomberg News in an interview on Thursday.
Kazaks, who is also the Latvian central bank governor, told Bloomberg News tariffs are another source of uncertainty.
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Reuters
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- Reuters
ECB governors see July pause but Sept up in the air
FRANKFURT, June 5 (Reuters) - A clear majority of European Central Bank policymakers meeting on Thursday expressed a preference for holding interest rates steady next month and a few even made the case for an even longer pause, four sources told Reuters. The ECB cut interest rates for the eighth time in a year on Thursday but hinted at a pause in its year-long easing cycle after inflation finally returned to its 2% target. ECB policymakers did not explicitly discuss their July decision but their deliberations revealed a clear preference for no change then since little new information would come out in the next six weeks and interest rates were already low enough to support the economy, the sources said. An ECB spokesperson declined to comment. While some policymakers argued for a longer pause, most preferred not to discuss meetings beyond July, arguing that new economic projections in September would be crucial. Some also argued that any meaningful fall in inflation below 2% in the coming months could justify a further cut in borrowing costs. All policymakers apart from Austrian governor Robert Holzmann backed Thursday's rate cut.
Reuters
37 minutes ago
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Major Stellantis car plant in Sochaux to restart production on June 6
PARIS, June 5 (Reuters) - Stellantis' ( opens new tab car plant in Sochaux in eastern France is expected to be restart production on Friday after a few days of stoppage due to the breakdown of its new-generation Chinese stamping press, a Stellantis spokesman told Reuters. The outage came at a critical time of precarious supplies, as the car industry faces a new crisis linked to restrictions on the export of rare earth magnetic materials from China. The press, introduced in 2020 for an investment of 33 million euros, allows great versatility in manufacturing different body parts for the Peugeot 3008 and 5008 SUVs. Out of service since Monday, the press is due to restart on Friday morning and, if the tests are successful, car production will resume soon after, the spokesperson added. The disruption, which resulted in the loss of 1,000 cars a day at one of Stellantis' main factories - which employs 3,000 workers - came at an unfortunate time, just a few days after new CEO Antonio Filosa visited the site after his appointment was announced.
Reuters
42 minutes ago
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Dest joins list of big-name absences from U.S. Gold Cup squad
NEW YORK, June 5 (Reuters) - United States defender Sergino Dest was left out of their squad for the CONCACAF Gold Cup on Thursday, joining a list of big-name absences, as head coach Mauricio Pochettino named a group loaded with fresh faces. U.S. forward Christian Pulisic had already opted out of the tournament, along with his AC Milan teammate Yunus Musah, while starters Weston McKennie, Gio Reyna and Tim Weah will miss out due to obligations with the upcoming Club World Cup. U.S. media reports said Dest was left out due to fitness concerns after he returned from an 11-month injury absence in March after tearing his anterior cruciate ligament last year. His absence leaves the U.S. with just a handful of veterans in their 26-man squad, including goalkeeper Matt Turner, defender Tim Ream and Bournemouth midfielder Tyler Adams. Coventry City's Haji Wright is the only player among the forwards with more than four senior national team caps, with 15 appearances for the United States. The squad includes four players who were called up for the first time. "We are extremely excited to work with this group of players and compete for the championship," Pochettino said in a statement. "Of course our priority is to win the tournament and to show the right mentality and approach, and we are confident these players will take advantage of the opportunity." The United States are hoping to right the ship after their bid for a fourth straight CONCACAF Nations League title came to an end with a semi-final defeat against Panama in March. The team failed to reach the knockout stage in the Copa America last year, a humiliating result that led to the firing of head coach Gregg Berhalter. The team will play friendlies against Turkey and Switzerland before their first group-stage match against Trinidad and Tobago on June 15.
