ECB Minutes Show Concerns for Trade Protectionism

Protectionism and the threat of a global trade war are the biggest risks to the euro zone economy but growth for now remains firmly on the path seen earlier, European Central Bank policymakers concluded last month.

In a meeting with few if any disagreements, rate setters shared the view that the bloc was performing as expected so no tweak to policy was needed, the minutes of the July 26 meeting showed on Thursday.

The ECB agreed in June to end lavish bond buys by the close of the year and to keep rates steady at least through next summer, giving markets unusually long notice for its likely policy moves.

via Reuters

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza