European Markets Open Slightly Higher After ECB Holds Interest Rates

Friday, 26 July 2019 14:33 WIB

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European stocks opened slightly higher Friday morning, after the European Central Bank (ECB) suggested it could lower borrowing costs to tackle a slowdown in the euro zone economy.

The pan-European Stoxx 600 was up around 0.1% shortly after the opening bell, with most sectors and major bourses in positive territory.

The ECB held interest rates steady on Thursday, but outgoing President Mario Draghi all but pledged to ease monetary policy further as the growth outlook deteriorates.

Speaking to reporters at a press conference Draghi said the economic outlook was “getting worse and worse,” citing a weak manufacturing sector as well as uncertainty over trade and Brexit.

Source : CNBC


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