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ECB Rate Path in Question as Powell Signals Cut | The Opening Trade 08/26
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August 26, 2024
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1:36:12Now PlayingStocks paused on Monday as rising tension in the Middle East tempered the bullish sentiment sparked by the prospect of imminent Fed rate cuts. STOXX 600 index was little changed at the open on Monday, with liquidity lower than usual as UK markets are closed for a holiday. Meanwhile, ECB Chief Economist Philip Lane, cautioned that the benchmark rate “will have to remain in restrictive territory for as long as is needed to shepherd the disinflation process towards a timely return to target.” Lane's comment comes after Fed Chair Jay Powell said the “time has come” for the Fed to lower benchmark rates from their two-decade high, his clearest signal yet that long-awaited rate cuts are imminent.
Today's guests: George Lagarias, Forvis Mazars; Marcus Garvey, Macquarie Group; Dirk Steffen, Deutsche Bank
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The Opening Trade has everything you need to know as markets open across Europe. With analysis you won't find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Anna Edwards, Guy Johnson and Kriti Gupta.
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