The European Central Bank could see rate cuts as a toolkit for new stimulus.
On Tuesday, the European stock market recovered from early falls as ECB President Mario Draghi promised more monetary stimulus if the economy does not improve. ForexLive reports the Euro is under renewed pressure now as Draghi comes out with the dovish hammer to knock down the currency.
Taking to Twitter, U.S. President Donald Trump responded:
Mario Draghi just announced more stimulus could come, which immediately dropped the Euro against the Dollar, making it unfairly easier for them to compete against the USA. They have been getting away with this for years, along with China and others.
— Donald J. Trump (@realDonaldTrump) June 18, 2019
Stocks Fall As ECB Cuts Growth Guidance, Bank Stimulus Plan Falls Flat
US Trade Deficit Hits 10-Year High
See more from Benzinga
- Boris Johnson Makes PM Campaign Official As Trump Arrives In The UK
- As Brexit Woes Continue, Trading Sterling Is Painful
- Reports From Westminster Suggest UK PM Theresa May Will Resign
© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.