Euros & Dollars: The Fading Hope of Lower Interest Rates
The prospect for lower interest rates in Europe is fading, but the reason has nothing to do with the European economy. The reason is found on the other side of the Atlantic Ocean.
The prospect for lower interest rates in Europe is fading, but the reason has nothing to do with the European economy. The reason is found on the other side of the Atlantic Ocean.
ECB staff are revolting against attempts to “reprogramme” employees critical of green policies, with one bank executive under fire for his hardline approach.
Christine Lagarde, ECB president, opined that even small transactions using the digital euro should be subject to control.
The expected raising of the interest rate by the ECB sent a short-term positive signal to the stock market.
The ECB has thus far stayed committed to low, steady interest rates. But there is growing anticipation of a rate increase by the ECB during 2022.
The ceremony, honoring Lagarde’s distinction for her “contribution to the renown of France” took place in the winter garden of the Élysée Palace. The event fuelled speculation as to what Macron’s intentions may be.
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