European Central Bank concerned by economic slowdown
FRANKFURT, Germany (AP) — Top officials of the European Central Bank worried at their last meeting that the slowdown in economic growth might be "deeper and more broad-based" than previously suspected.
The written account of the Jan. 24 meeting released Thursday indicated the bank's 25-member rate-setting council felt they had to balance acknowledgement of worsening data with conveying confidence that the bank's stimulus policies were working.
A key concern was rising trade protectionism amid a dispute between the U.S. and China that could result in more tariffs, or import taxes, that might further slow global trade.