J.P. Morgan Now Expects Two ECB Rate Hikes Amid Inflation Pressures 
Taiwan Central Bank Expected to Hold Interest Rates Steady Through 2027 
Australia Bans Card Payment Surcharges Starting October 2025 
China Holds Benchmark Loan Prime Rate Steady for Tenth Consecutive Month 
Fed Holds Rates Steady as Middle East Conflict Clouds Inflation Outlook 
Bank of Japan Holds Rates Steady Amid Inflation Concerns and Yen Weakness 
ECB Eyes Rate Hike Amid Iran Conflict-Driven Energy Price Surge 
It seems we were conservative in our estimates, while European Central Bank wasn't in their actions.
Actions from ECB
- Main refinance rates were cut by 0.05% to zero, so it's basically free money for banks and institutions.
- Marginal lending rate reduced by 5 basis points to 0.25%.
- Deposit rates reduced by 10 basis points to -0.4%.
- Purchase program size increased by €20 billion/month to €80 billion per month.
- Investment grade nonbank corporate bonds added to PSPP program.
- Launched four new LTROs.
Market is reacting as expected.
Bond yields are down across Europe. German DAX is up 2.6%, European blue chip index, EuroStxx50 is up 3.5%.
Euro is down -1.3% against Dollar, trading at 1.084.
