European markets hold steady after ECB rate cut
9:04 am Thursday, September 12th, 2024
LONDON (Reuters) – Euro zone government bond yields, the euro and European stocks held steady on Thursday after the European Central Bank cut its main interest rate for a second time in three meetings, in line with expectations.
The euro was last at $1.1019, up less than 0.1%.
The German 10-year bond yield, the benchmark for the euro zone, was little changed after the decision at 2.124%, up two basis points on the day.
The pan-European benchmark STOXX 600 index held gains and remained higher by 1.1%, while an index of euro area banks was up 1.8%.
Attention was now set to turn to the post-decision press conference from ECB President Christine Lagarde at 1245 GMT.
(Reporting by Samuel Indyk; Editing by Amanda Cooper)
