ECB Cuts Interest Rates Amid Global Economic Concerns

According to BlockBeats, the European Central Bank (ECB) has reduced interest rates by 25 basis points, marking the seventh rate cut in the past year. This decision was unanimously agreed upon. Additionally, U.S. President Donald Trump has urged the Federal Reserve to lower interest rates similarly to the ECB. Recent data from CME's "FedWatch" indicates an 86.3% probability of maintaining current rates in May, with a 13.7% chance of a 25 basis point cut. For June, the likelihood of unchanged rates stands at 38.2%, while the probability of a cumulative 25 basis point cut is 54.1%, and a 50 basis point cut is 7.6%. Overall, the easing of monetary policy and challenging global trade conditions are key factors supporting gold prices recently.