The European Central Bank will announce its rate decision at 7.45 am ET. The central bank is likely to cut its record low benchmark interest rate, known as the refi, to 0.50 percent from 0.75 percent.
The euro held steady against its major rivals ahead of the rate decision. As of 7:40 am ET, the common currency was trading at 99.0 against the yen, 1.2615 against the dollar, 0.7930 against the pound and 1.2050 against the franc.
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Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.