ECB Cuts Interest Rates by 25 Basis Points, Market Awaits Latest Fed Update

BlockBeats News, April 18th, the ECB reduced interest rates by 25 bps as scheduled, marking the seventh rate cut in the past year, with the decision being unanimously passed. In addition, Trump urged the Fed to lower interest rates as the ECB did. The latest CME "FedWatch" data shows an 86.3% probability of maintaining interest rates in May, a 13.7% probability of a 25 bps rate cut, a 38.2% probability of maintaining interest rates in June, a 54.1% cumulative probability of a 25 bps rate cut, and a 7.6% cumulative probability of a 50 bps rate cut. Overall, loose monetary policy and the grim global trade situation have become the two main factors supporting the recent rise in gold prices. (FXStreet)