Euro, european stocks hold steady after as-expected ecb rate cut

Euro, european stocks hold steady after as-expected ecb rate cut

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European markets and the euro are largely holding steady after the European Central Bank delivered just what markets expected, cutting its key lending rate by 25 basis points to 2%. The


Stoxx Europe 600 Index, up nearly 9% this year and outpacing the S&P 500, was up about 0.2% — slightly below where it was trading before the decision. The euro is up 0.15% at $1.1440,


while German 10-year bunds were off 4.9 basis points to 2.48%, tracking moves in U.S. Treasurys. The move marked the eighth consecutive 25-basis-point cut from the central bank.