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ECB: Trump: ECB weakens euro to the detriment of US exports

2019-09-12T15:08:23.983Z

TIME ONLINE | News, backgrounds and debates



Washington (AP) - US President Donald Trump has accused the European Central Bank to weaken the euro at the expense of the US export industry. "They're trying to devalue the euro against the very strong dollar, which is damaging to US exports," Trump wrote on Twitter. He calls on the US Federal Reserve to cut interest rates. Looking at the Europeans, Trump said: "You are being paid to borrow money while paying interest!" The ECB tightened the bank deposit penalty rate from 0.4 percent to 0.5 percent. The ECB kept the prime rate in the euro area at zero percent.

Source: zeit

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