Bank

Cryptocurrency

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/european-central-bank-lowers-interest-rates/" data-wpel-link="internal">European Central Bank Lowers Interest Rates</a><br></p>
<p style="text-align: justify"><strong>Cryptocurrency investors</strong> had a tough time in 2022 due to rapid global interest rate hikes. Adding our own issues, we saw a dip below the previous ATH level of $20,000, a first. Unsurprisingly, we have been facing the reality that this decline won’t last forever for months. So, what happens now?</p> 
<h2 style="text-align: justify" id="european-central-bank-lowers-interest-rates">European Central Bank Lowers Interest Rates</h2> 
<p style="text-align: justify">At the end of last month, we mentioned that it was almost certain the ECB would cut rates at the June meeting. This would encourage the Fed and other central banks to make cuts. According to the recent decision, the European Central Bank officially announced the end of the tight monetary policy period by cutting <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">interest rates</a> by 25bp.</p> 
<p style="text-align: justify">The Fed’s decision, which will be announced in the coming days, is very unlikely to be a cut. However, if tomorrow’s employment and wage growth data are also positive, we could see further improvement on the macroeconomic front with today’s ECB cut.</p> 
<blockquote> 
 <p style="text-align: justify">“In the second half of the year, we will reduce the PEPP portfolio by an average of 7.5 billion Euros per month. The ECB will continue to take a data-dependent and meeting-by-meeting approach to determine the appropriate level and duration of restraint. We will continue to keep the policy rate tight to the necessary extent by monitoring the data to fight inflation.”</p> 
</blockquote> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-359832 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/06/BTCUSDT_2024-06-06_15-25-16.png" alt="" width="1814" height="836"></p> 
<p style="text-align: justify">After <a href="https://newslinker.co" target="_blank" rel="noopener" data-wpel-link="exclude">the announcement</a>, <a href="https://en.coin-turk.com/bitcoin-eyes-30500-amid-diverse-market-movements-will-the-rally-continue/" data-wpel-link="internal">BTC</a> rose to $71,300. Investors predict another 40bp cut before the year ends.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/european-central-bank-lowers-interest-rates/" data-wpel-link="internal">European Central Bank Lowers Interest Rates</a></h5>

European Central Bank Lowers Interest Rates

Table of Contents

COINTURK NEWS

Other articles published on Jun 6, 2024

BlockDAG's Moon Keynote Release: Amplifies $41.6M Presale with Best Crypto Mining App; Eclipes PE...

NFPrompt Token Enables AI-Powered Art Creation and NFT Minting

Robert Kiyosaki Promotes Three Cryptocurrencies

Fidelity’s FBTC Bitcoin ETF Sees 600M Inflows in 2 Days

MoonBag Becomes 2024’s Top Crypto Presale While Bitcoin Cash and Shiba Inu Count Losses

VanEck’s Ethereum Price Prediction: ETH Price To Hit $22,000 by 2030 with ETF Boost

Join our free newsletter for daily crypto updates!