inflation, ECB and Euro
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Inflation in the 20 countries that use the euro fell to 1.9% in May from 2.2% in April, helping clear the way for more interest rate cuts from the European Central Bank.
The European Central Bank has signalled it is nearing the end of its rate-cutting cycle as it lowered borrowing costs by a quarter point to 2 per cent. The euro climbed to trade 0.5 per cent higher against the dollar at $1.147 after remarks by ECB President Christine Lagarde that the central bank’s easing cycle had “nearly concluded”.
Treasury yields climbed Thursday as a selloff in European government bonds overshadowed weakening US labor market data.