👉👉👉 #ECB Cuts Rates, #CryptoMarkets Brace for Potential #bitcoin Surge
This decision comes amidst projections of inflation at 2.5% in 2024, gradually decreasing to 1.9% by 2026. Additionally, GDP growth forecasts predict a rise of 0.9% in 2024 and 1.6% in 2026. The anticipated move, marking the first cut since September 2019 when the deposit facility entered negative territory, was expected by money markets.
The unanimous decision to cut rates was supported by all 20 national representatives, with ECB President Christine Lagarde highlighting the significance of this move. Recently, a major central bank initiated a rate cut this year, sparking speculation that the ECB might follow suit.
Amid these macroeconomic conditions in the European Union, analysts at QCP Capital suggest that today’s U.S. jobless claims report and the upcoming CPI release could potentially drive Bitcoin to new all-time highs.
QCP Capital also asserts that market momentum might intensify if potential rate cuts are taken into account. This sentiment aligns with recent actions by central banks worldwide, reflecting a collective effort to navigate economic uncertainties. Notably, the ECB is expected to implement a similar quarter-point rate cut soon.
Source - thecryptobasic.com
