ECB Holds Rates as Oil Falls and Markets Rebound
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- European Central Bank kept its policy rate unchanged despite rising fuel prices.
- Bank of England also left its benchmark rate steady as oil prices fell, supporting a market rebound.
- Christine Lagarde joined Jerome Powell in rejecting the 1970s stagflation label for today’s inflation.
- CNBC highlighted that rising fuel prices are forcing policymakers to weigh excruciating choices.
- The New York Times reported that European markets rebounded as oil prices fell.
Why it matters: Not enough in the article to say why this matters.
