European Central Bank weighs broad package of stimulus measures including an interest rate cut and new bond purchases to counter worries that economic growth is slowing more than expected amid U.S.-China trade tensions.
The European Central Bank is weighing a broad package of stimulus measures including an interest rate cut and new bond purchases to counter worries that economic growth is slowing more than expected amid U.S.-China trade tensions.
Many analysts expect the bank to add stimulus at its Sept. 12 meeting. Both the ECB and the Federal Reserve in the United States have shifted their stance toward more stimulus as worries about the global economy have grown in recent weeks. Slowing global trade has affected eurozone manufacturers amid uncertainty about the outcome of U.S.-China trade talks and whether more tariffs will be imposed. Other headwinds come from less growth in China and from structural changes in the automobile industry. Automakers are being pushed to introduce more electric cars to meet tougher emissions regulation in Europe and China, even though battery cars have been slow to catch on with buyers.
Other reasons for slow growth: The ECB has pointed to lack of progress on pro-business reforms that would eliminate red tape and costs to companies. It has also urged governments that can afford it to spend more on things that support economic growth such as infrastructure. Germany has insisted on running budget surpluses despite low or even negative borrowing costs, and despite urging from the International Monetary Fund and the U.S. Treasury to spend more.
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