Europe launches economic stimulus
by Onize Ohikere
Posted 9/13/19, 11:28 am
President Donald Trump on Friday condemned a stimulus package the European Central Bank rolled out to try to avoid a recession. The top bank cut its deposit rate and will keep its interest rate at a record low in response to low inflation and the U.S.-China trade war. Trump tweeted that depreciating the euro against the dollar will hurt U.S. exports.
Will the plan help? Artur Baluszynski, head of research at Henderson Rowe, told CNBC the program will function like a tax on eurozone banks, meaning “this move could spell more trouble.”
Dig deeper: Last month, a top economist predicted a 70 percent chance of a recession across Europe.
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Onize is a reporter for WORLD Digital based in Abuja, Nigeria.