ECB Cuts Benchmark Refinancing Rate From 3.65% To 3.40%
Portfolio Pulse from Benzinga Newsdesk
The European Central Bank (ECB) has reduced its benchmark refinancing rate from 3.65% to 3.40%. This decision is likely to impact European markets and could influence US-listed ETFs with European exposure.
October 17, 2024 | 12:16 pm
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The ECB's decision to cut the benchmark refinancing rate from 3.65% to 3.40% may positively impact the Vanguard FTSE Europe ETF (VGK) by potentially boosting European markets.
The ECB's rate cut is likely to stimulate economic activity in Europe, which could lead to a positive impact on European equities. As VGK is an ETF with significant exposure to European markets, it may benefit from this move.
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