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European Central Bank

noun

  1. the central bank of the European Union, established in 1998 to oversee the process of European Monetary Union and subsequently to direct monetary policy within the countries using the euro ECB
“Collins English Dictionary — Complete & Unabridged” 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012


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"Restrictions on trade, protectionist measures, are not conducive to growth, and ultimately have an impact on inflation that is largely uncertain," the president of the European Central Bank, Christine Lagarde, said last month.

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Other central banks within developed economies, including the Bank of England and the European Central Bank, have recently cut interest rates.

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Some banks, including the Bank of Canada and European Central Bank, have already announced rate cuts.

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The European Central Bank is in a tough spot.

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This month, the European Central Bank cut rates for the first time in about five years but warned that it would take a cautious approach to future cuts.

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