Everything News
Many residents of the Federal Capital Territory, Abuja, have decried increased transport fares, which have limited their movement around the city centre. They told the News Agency of Nigeria that one of the greatest challenges they encountered was the non availability of fuel in spite of its increased cost. According to them, fuel is not
The Nigerian Army, in conjunction with other security agencies, has apprehended 10 terrorism suspects and recovered an AK-47 rifle with…
Nigeria’s First Lady, Oluremi Tinubu, on Sunday, said the Renewed Hope Initiative procured 60,000 professional kits comprising scrubs and crocs for midwives to support the ongoing Federal Government retraining of 120,000 health workers. She said the donation by an anonymous donor is to support the midwives to reduce infant and maternal mortality and morbidity. Tinubu
Read More
Nigeria’s First Lady, Oluremi Tinubu, on Sunday, said the Renewed Hope Initiative procured 60,000 professional kits comprising scrubs and crocs for midwives to support the ongoing Federal Government retraining of 120,000 health workers. She said the donation by an anonymous donor is to support the midwives to reduce infant and maternal mortality and morbidity. Tinubu
The European Central Bank, ECB, has warned that the United States’ trade war with China could have a detrimental impact on the 20-member euro zone. ECB board member, Piero Cipollone, who gave the warning, said interest rates have room to fall further as inflation moderates. DAILY POST reports that the ECB has lowered borrowing costs
Europe could be big loser in US-China trade war – ECB warns
The European Central Bank, ECB, has warned that the United States’ trade war with China could have a detrimental impact on the 20-member euro zone.
ECB board member, Piero Cipollone, who gave the warning, said interest rates have room to fall further as inflation moderates.
DAILY POST reports that the ECB has lowered borrowing costs five times since June as growth concerns start to trump price worries, and investors see at least three more rate cuts this year in a bid to boost an economy struggling to rebound from two years of near stagnation.
“We all agree there is still room for adjusting rates downwards. We are almost on target…(and) we are still in restrictive territory,” Cipollone said.
He added that higher energy prices and global trade tensions are tugging the ECB in different directions, stressing that there is no sense in committing to any specific move for now, including a widely anticipated and fully priced in cut in March.
According to him, the euro zone economy has not fundamentally changed since December, when the ECB’s projections assumed four rate cuts in 2025, including a move already delivered in a unanimous decision last month.
“The overall understanding of where we are going is there, the fundamentals haven’t changed, so I do not expect a big change in direction. This convergence with the inflation target is coherent with a declining interest rate path,” Cipollone stated.
Inflation inched up to 2.5% last month but the ECB sees it back at 2% sometime this summer after four years above target.
Cipollone argued that the big uncertainty is US trade policy, saying it could hit Europe hard, even before any direct trade barriers on the bloc.
Recall that the US imposed a 10% tariff on all Chinese imports this week, prompting retaliatory measures from Beijing.
Cipollone reiterated that curtailing access to the US would force China to find other markets and it could dump discounted products on Europe, curbing growth and prices.
Europe could be big loser in US-China trade war – ECB warns