NEW YORK - The European Central Bank announced its Governing Council cut interest rates 25 basis points at its latest monetary policy meeting Thursday.
The minimum bid rate on variable-rate refinancing operations was dropped to 1.00% from 1.25%, the marginal lending rate was cut to 1.75% from 2.00% and the deposit rate, the floor for euro money market rates, was slashed to 0.25% from 0.50%.
With the "fragile" ceasefire in the United States-Iran conflict underway, the risk of higher rates beyond those from March has largely been removed, said BofA strategists.
Less than two weeks after Washington Gov. Bob Ferguson signed a new tax on annual income over $1 million, a lawsuit has been filed seeking to overturn it.
The state does not have the bonding capacity to independently rebuild the American Legion Bridge, the feds say. The state continues to hope for a federal grant to help cover the cost.
During the two-week ceasefire anything could still happen and a "blow up" would create significant volatility, said Kevin McGuigan, director at Municipal Market Analytics.
Credit ratings agencies, consultants and budget analysts are beginning to calculate, costs, risks, and remedies associated with cuts to Medicaid prescribed by the One Big Beautiful Bill Act.
Moody's said the $350 million of Series 2007 Class I bonds are on review for further downgrade.
