US tariffs to force quicker Fed, ECB rate cuts to support growth, says Nomura
Government
The U.S. reciprocal tariffs will stymie economic growth and lift inflation, forcing the Federal Reserve to start lowering interest rates from the end of this year, while the European Central Bank could cut rates as soon as this month, Nomura said. U.S. President Donald Trump imposed sweeping tariffs on dozens of countries on Wednesday, which intensified the threat of a global trade war and fuelled fears of a global economic slowdown, or even a recession. The tariffs are "worse than feared",
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