The European Central Bank (ECB) decided to cut interest rates this month by 25 basis points, to set the reference rate at 3.25 %.

This is the third adjustment by the European body, announced by the ECB Governing Council at a meeting in Ljubljana (Slovenia). Meanwhile, “the main refinancing operations (MROs) – the weekly injections of money – and the credit facility – the one that lends to banks for one day – stood at 3.4 % and 3.65 %, respectively.”

With this technical adjustment, the ECB seeks to “align short-term interest rates in the money market with the decisions of the Governing Council, as well as to remove excess liquidity from the system so that it does not interfere with the correct transmission of monetary policy.”

The slowdown in inflation in the eurozone, which was already reported in September at 1.7 %, is the result of the decrease in the price of energy, fresh food, alcohol, tobacco, among other items during the month of August.

M.Pino

Source: publico.es

(Reference image source: Dimitri Karastelev in Unsplash)

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La entrada European Central Bank cuts interest rates to 3.25 % apareció primero en Bitfinance.

According to the CEO of Galaxy Digital, Mike Novogratz, the cryptocurrency could fluctuate between $55,000 and $75,000 until the presidential elections in the United States and the cut in interest rates by the SEC, given the slowdown in inflation.

These two factors will be key in setting the value of the main cryptocurrency on the market, which faces acceptance by Donald Trump and rejection by some Democrats.

The increase in the adoption of digital currencies is generating distrust in a sector of American authorities and politicians. However, on the other hand, they are seen as a friendly mechanism by another sector of public life in the United States.

Novogratz believes “that the US presidential elections could be crucial for the future regulator of cryptocurrencies, depending on whether or not Democrats maintain an anti-cryptocurrency stance. The Biden administration recently signaled that it would veto a rule that requires crypto companies to record their customers’ holdings as liabilities.”

M.Pino

Source: cripto247

(Reference image source: John Paul Cuvinar in Unsplash)

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La entrada Bitcoin price would be influenced by the upcoming elections in the United States apareció primero en Bitfinance.