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The European Central Bank did not reduce its policy rate of interest, something that many investors and analysts expected them to do. The expected reduction was not great, only 10 basis points, but a reduction was expected, nonetheless.
Jack Ewing writes in the New York Times,
“The European Central Bank joined other central banks Thursday in taking a forceful action to prevent the spread of the coronavirus from undermining the global economy.”
“But,” he continues, “the bank disappointed expectations it would cut interest rates as the eurozone hurtles toward recession.”