G7 Central Banks to Respond to Trump Tariff Chaos
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This week, the Group of Seven (G7) central banks will issue their first responses to President Donald Trump’s tariffs, which were introduced into global markets last week. The European Central Bank (ECB) and Bank of Canada (BOC) are expected to announce rate cuts and decisions on market headwinds. Economists anticipate the ECB to cut rates on Thursday due to price stability risks and renewed market stress. ECB President Christine Lagarde has stated that the bank has tools to manage emerging threats. This will be the second time in two years that the ECB faces market fallout because of a Federal Reserve decision. Meanwhile, in the United States, Chair Jerome Powell is scheduled to speak this week, with fresh economic data also anticipated.
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