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You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/european-central-bank-announces-interest-rate-cuts/" data-wpel-link="internal">European Central Bank Announces Interest Rate Cuts</a> 
Cryptocurrency investors are significantly influenced by macroeconomic developments. <a href="https://en.coin-turk.com/analyst-predicts-bitcoin-surge-with-potential-etf-approval/" data-wpel-link="internal">Bitcoin</a> is in a very different place than yesterday. As more cash flows from traditional finance, the impact of macroeconomic developments will be felt more. 
<h2 style="text-align: justify" id="european-central-bank-statements">European Central Bank Statements</h2> 
In mid-2021, the Fed viewed inflation as temporary, but it has become a major global issue. Historic levels of global inflation have led central banks to collectively raise <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">interest rates</a>. This increased the cost of money, triggered an exit from risk markets, and caused tough times for cryptocurrencies. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-356203 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/EUROUSD.png" alt="" width="1115" height="515"> 
This year will see central banks starting to cut interest rates. The first strong signal came from the European Central Bank, which announced a rate cut in June. Hopefully, the Fed will follow by September at the latest. Villeroy from the European Central Bank stated: 
<blockquote> 
 “Unless there is a surprise, the rate cut in June is confirmed. The market’s current expectations of our final interest rate are not unreasonable. For me, service inflation, wages, or margins are more important. With a 4% deposit facility rate, we have significant room for a rate cut.” 
</blockquote> 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/european-central-bank-announces-interest-rate-cuts/" data-wpel-link="internal">European Central Bank Announces Interest Rate Cuts</a></h5>

European Central Bank Announces Interest Rate Cuts

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