FRANKFURT AM MAIN: European Central Bank chief Mario Draghi sparked anger from US President Donald Trump on Tuesday , when his hint at future interest rate cuts"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," Trump said via Twitter."They have been getting away with this for years, along with China and others," he added.
They sent Germany's DAX index of blue-chip shares back into the black from negative territory - up 1.8 per cent around 3:45pm - and pushed the euro down as much as 0.3 per cent against the dollar, to US$1.12, before rebounding slightly.And 10-year government bond yields in France briefly dipped into negative territory for the first time ever - joining Germany, the Netherlands and Austria in the club of countries investors pay to lend them money - before ticking up to 0.
Both countries and others like Japan and South Korea remain on a Washington watchlist, the US Treasury department said last month, but have not been formally singled out as manipulators.The ECB blames weakening economic growth on US trade conflicts with the EU and China, as well as the looming threat of a no-deal Brexit and slower performance from emerging economies.
Aside from rate cuts, other moves could include restarting"quantitative easing" purchases of government and corporate debt, which amounted to 2.6 trillion euros between 2015 and 2018.
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