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9/12, 2:15 PM (Source: TeleTrader)
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Trump: ECB successfully depreciating euro against dollar

United States President Donald Trump said on Thursday that the European Central Bank was "succeeding" in depreciating the euro against the dollar while the Federal Reserve "sits, and sits, and sits." He added that they got paid to borrow money while the US was paying interest.

"European Central Bank, acting quickly, Cuts Rates 10 Basis Points. They are trying, and succeeding, in depreciating the Euro against the VERY strong Dollar, hurting U.S. exports.... And the Fed sits, and sits, and sits. They get paid to borrow money, while we are paying interest!" Trump tweeted.

Trump's remarks come after the ECB cut the deposit facility rate by 10 basis points to -0.50% and left rates on the main refinancing operations and the marginal lending facility unchanged at 0% and 0.25% respectively. It also said that the asset purchase program will be restarted from November 1 at a monthly pace of €20 billion.

Breaking the News / DZ