Les Echos – The ECB retains leverage despite pausing rate cuts (Opinion piece)

⚠️Automatic translation pending review by an economist.

Hervé Amourda, head of research at Finance Pro Btp and member of the strategic committee at BSI Economics, and economist Léo Nicolau published an opinion piece in Les Echos on July 30, 2025. They discuss the European Central Bank’s schedule for reducing key interest rates and the levers at its disposal to influence the markets without having to change its rates.

To read this opinion piece, click here.

31/07/2025

L'auteur

Hervé Amourda

Hervé AMOURDA is an economist with PRO BTP FINANCE. He began his career at Société Générale (CIB) in London as a junior economist, before moving to India and becoming a eurozone economist specializing in inflation. He was then put in charge of the economic scenario at the Fonds de Réserve pour les Retraites (FRR). Hervé joined PRO BTP FINANCE in 2017. Hervé holds a Master's degree in Economics and International Finance from the University of Bordeaux and the University of California. He has been teaching Macroeconomics at the University of Paris Dauphine since 2018 (L2 and M2) and is a regular speaker at the University of Bordeaux.

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