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The European Central Bank on Thursday cut interest rates for the third time this year, saying inflation in the euro zone was becoming increasingly subdued and the economic outlook worsened. The first consecutive interest rate cuts in 13 years signal the eurozone central bank's focus has shifted from curbing inflation to protecting economic growth, which has lagged far behind the United States for the second year in a row. “Further information on inflation indicates that the process of deflation is well underway,” the ECB said. “The outlook for inflation is also influenced by downward expectations for recent indicators of economic…

Stock markets in Europe and the United States rose mainly on Thursday as the European Central Bank cut interest rates and concerns that the tech sector was struggling eased after earnings from major chipmaker TSMC.Wall Street indexes were mixed on a day of renewed interest in Nvidia and other chipmakers and designers. Traders were also digesting new data released Thursday that showed retail sales rose last month and further interest rate cuts from the European Central Bank (ECB). Sam Burns, chief strategist at Mill Street Research, told AFP that positive economic news in the U.S. and interest rate cuts in…

For the past decade, a Welsh man has begged the city government for permission to view the contents of his local garbage dump. James Howells, a 39-year-old Newport resident, has been desperate for 7,500 bitcoins since he accidentally threw them in the trash on his hard drive in 2013. The rise in the value of cryptocurrencies over the past decade means these assets are worth more than $500 million today. Unfortunately for Mr. Howells, the Newport City Council repeatedly denied his requests. Lawmakers argue that digging deeper into the landfill violates regulations and could cause significant damage to the surrounding…

The 25 basis point rate cut that analysts had expected came on the back of subdued inflation and weak economic growth. advertisementThe European Central Bank (ECB) cut interest rates on Thursday afternoon during its October board meeting, marking the third consecutive rate cut since June.The new interest rates were set at 3.40% for major refinancing operations, 3.65% for marginal loan limits, and 3.25% for deposit limits.The primary refinancing operation rate is the rate that banks pay when they need to borrow money from the ECB for a week, whereas the marginal lending facility rate is the rate that banks pay…

The European Central Bank intervened with its first consecutive interest rate cuts since the 2011 euro crisis to prevent a sharp slowdown in the euro zone economy.With Germany on the brink of recession and inflation sluggish across the 20 member countries of the single currency area, the ECB cuts its main deposit rate by a further 0.25 percentage points, following cuts in borrowing costs at its last Governing Council meeting in September. It was set at 3.25%. .Marking the third interest rate cut this year, ECB President Christine Lagarde said the decline in inflation has taken the central bank by…

According to a Chainalysis report on October 17, North America has once again claimed the top spot as the world's most important cryptocurrency market due to increased institutional investor activity in the United States.From July 2023 to June 2024, $1.3 trillion of on-chain value will be created in North America, representing 22.5% of the global total. Chainalysis believes this advantage is due to increased institutional investor activity, particularly in the US, where large transactions of over $1 million account for 70% of crypto remittances in the region. .Advantage of US cryptocurrencies (Source: Chainaracy)While the United States leads the North American…

A widely followed analyst and trader shares his outlook for Bitcoin (BTC) and two meme coins as crypto prices soar. An analyst known by the pseudonym Brandts told his 284,000 followers on social media platform X that Bitcoin could see a correction before trending higher. According to the pseudonymous analyst, who regularly applies Elliott Wave Theory in his technical analysis, Bitcoin has risen more than 15% since October lows below $59,000, occurring in five wave patterns. It is said that there is. Based on the pseudonymous analyst’s chart, Brandts seems to be suggesting that Bitcoin could reach around $62,000 and…

Stock markets in Paris and Frankfurt rose on Thursday, with the euro in mixed trade ahead of expected interest rate cuts by the European Central Bank as the euro zone faces slowing economic activity and downward pressure on prices.Outside the euro zone, London rose in mid-day trading after Asian stock markets were mainly weak as Beijing's latest plan to support China's troubled real estate sector fell short of expectations.Investors expect the ECB to cut interest rates by 25 basis points on Thursday, following the previous two cuts this year.The euro zone inflation rate for September was revised downward to 1.7%…

Investors expect the ECB to cut interest rates by 25 basis points on Thursday, following the previous two cuts this year (Daniel Rowland)Stock markets in Paris and Frankfurt rose on Thursday, with the euro in mixed trade ahead of expected interest rate cuts by the European Central Bank as the euro zone faces slowing economic activity and downward pressure on prices.Outside the euro zone, London rose in mid-day trading after Asian stock markets were mainly weak as Beijing's latest plan to support China's troubled real estate sector fell short of expectations.Investors expect the ECB to cut interest rates by 25…

13:21 ▪ 3 Minimum read time up to ▪ Eddie S. Ethereum co-founder Vitalik Buterin recently announced an ambitious vision for the future of Ethereum’s blockchain scaling solution, known as “The Surge.” This roadmap aims to significantly enhance Ethereum's transaction processing capabilities, with a goal of over 100,000 crypto transactions per second (TPS) through the integration of layer 2 solutions. Crypto: Vitalik Buterin's roadmap to 100,000 TPS! The main goal of “The Surge” is to make Ethereum an integrated ecosystem where various layer 2 solutions work seamlessly with the Ethereum main chain. Currently, Ethereum can handle around 15-30 TPS, which…