While a Bloomberg report that the European Central Bank is ready to consider negative interest rates on overnight bank deposits was followed by a dip in the value of the euro, two U.S. Federal Reserve Bank leaders confirmed today that the U.S. central bank would taper its easy-money policies at some point. James Bullard, president of the St. Louis Federal Reserve Bank, and Ben Bernanke, chair of the Federal Reserve, both commented that the Fed’s tapering program will end, perhaps beginning next month. After the reports, the euro fell as low as $1.3444; the dollar, by contrast, rose 0.3% as of 12:30 EST.
Euro Weakens, Fed Confirms Stimulus will End
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The European Central Bank (ECB) is considering a smaller-than-normal cut in the deposit rate if officials decide to take the interest rate negative for the first time, according to two people with knowledge of the debate.
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