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Tags: APFN | EU | Europe | Economy

European Central Bank Feared Slowdown Worse than Expected

European Central Bank Feared Slowdown Worse than Expected

Thursday, 21 February 2019 07:39 AM

FRANKFURT, Germany (AP) — Top officials of the European Central Bank worried at their last meeting that the slowdown in economic growth might be "deeper and more broad-based" than previously suspected.

The written account of the Jan. 24 meeting released Thursday indicated the bank's 25-member rate-setting council felt they had to balance acknowledgement of worsening data with conveying confidence that the bank's stimulus policies were working.

A key concern was rising trade protectionism amid a dispute between the U.S. and China that could result in more tariffs, or import taxes, that might further slow global trade.

The ECB left interest rate benchmarks unchanged at record lows but said risks to growth had increased. Analysts say the bank could delay its next rate increase, slated at the earliest for this fall, well into 2020.

© Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


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Top officials of the European Central Bank worried at their last meeting that the slowdown in economic growth might be "deeper and more broad-based" than previously suspected.The written account of the Jan. 24 meeting released Thursday indicated the bank's 25-member...
APFN,EU,Europe,Economy
132
2019-39-21
Thursday, 21 February 2019 07:39 AM
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