The European Central Bank left its benchmark rate unchanged at 0.5 percent on Thursday. Not only did ECB head Mario Draghi rule out rate increases, he hinted at a possible future cut if needed.
Some emerging economies, including Turkey and Argentina, could be forced to cut spending to bridge yawning deficits. As interest rates continue to rise in the US and Europe, there is no respite for them any time soon.
Turkey's central bank has shown it has teeth, hiking interest rates beyond expectations to quell inflation and calm investor nerves. But as recession looms and Erdogan growls, Turkey is not quite out of the woods.
The European Central Bank remains on track to pull the plug on its massive stimulus program for the eurozone, despite an uncertain global trade outlook and signs of slowing growth in the 19-member bloc.
The European Central Bank has said the new notes will include the latest anti-counterfeiting features and come in a slimmer size. The new €100 and €200 bills are slated to go into circulation across the eurozone by May.
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