EDGED UP TO 2% IN MAY, AND THE CONTEXT OF A STRONG INCREASE IN DEMAND WHILE CREDIT STANDARDS TIGHTENED SLIGHTLY IN THE SECOND QUARTER. SO IN CONCLUSION, THE GOVERNING COUNCIL TODAY DECIDED TO KEEP THE THREE KEY ECB INTEREST RATES UNCHANGED. WE ARE DETERMINED TO ENSURE THAT INFLATION STABILIZES AT OUR 2% TARGET IN THE MEDIUM TERM. WE WILL FOLLOW A DATA-DEPENDENT AND MEETING BY MEETING APPROACH TO DETERMINING THE APPROPRIATE MONETARY POLICY STANCE. OUR INTEREST RATE DECISIONS WILL BE BASED ON OUR ASSESSMENT O ...

💥BREAKING:PRESIDENT TRUMP IS ON HIS WAY TO THE FEDERAL RESERVE NOW TO PRESSURE POWELL TO CUT RATES! https://t.co/A1LRFluJ2C ...

I want to talk to you about big tech earnings first. What we saw from Alphabet, strong earnings all across the board, uh growth in cloud, more adoption of its Gemini product. Do you think that's a big tailwind when it comes to big tech or investors, you know, perhaps seeing it price to perfection and looking for any weak spots in upcoming reports.>> I think this is really more of a tailwind and it really shows also that AI it remains the big story not only on on stock markets but really also for for macro a ...

Monetary Policy - ECB 决定维持利率不变，为一年多以来首次 [1] - 维持三个关键 ECB 利率不变的决策背后存在原因 [1] - 市场利率受到关注 [1] Economic Outlook - 欧元区第一季度经济增长情况受到关注 [1] - 制造业和服务业发展情况是重点 [1] - 关税不确定性对经济有影响 [1] - 经济区域的失业率情况被评估 [1] - 经济增长前景展望 [1] - 呼吁加强欧元区财政和结构性政策，以增强经济韧性 [1] - 风险偏向下行，关税、贸易紧张和地缘政治不确定性是主要因素 [1] Inflation - 6 月份的年度通货膨胀情况 [1]

Financial Data and Key Metrics Changes - Second quarter sales decreased by 3% to $67.7 million, driven by a 13% decrease in the number of boats sold, partially offset by a 10% increase in price and mix [10] - Gross profit decreased to $12.9 million, but gross profit margin increased by 20 basis points to 19.1% [10] - SG&A expenses rose by 9% to $8.1 million, with SG&A as a percentage of sales increasing by 130 basis points to 12% [11] - Diluted EPS fell to $0.12 from $0.14 in the previous year [11] - EBITDA decreased to $5.6 million from $6.5 million last year [12] - Year-to-date operating cash flow was $90.2 million, with free cash flow at $8.6 million [12] - The company ended the quarter with $50 million in cash and no debt [12] Business Line Data and Key Metrics Changes - The company noted that retail sales declined industry-wide during the first four months of 2025, but managed to reduce field inventory by 11% year over year [6] - The introduction of new models last year was well received, and the company is excited about the 2026 model year rollout with several portfolio-wide changes [8][14] Market Data and Key Metrics Changes - The company observed that channel inventory levels are stabilizing, and there are positive signs of declining inventory levels [5] - Interest rates remain elevated, but potential rate cuts could stimulate spending among dealers and consumers [6][8] Company Strategy and Development Direction - The company is focused on positioning its brands for improved future demand and maximizing returns on investments [6] - There is an ongoing evaluation of acquisition opportunities and partnerships to enhance the company's portfolio [14] - The company aims to maintain strong relationships with dealers regarding channel inventory management [9] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about the industry working through excess inventory and the potential for improved sales in the second half of 2025 [5] - The company is closely monitoring tariff changes and their impact on input costs, including engines and materials [7] - Management highlighted the importance of maintaining dialogue with government representatives regarding trade negotiations [8] Other Important Information - The company plans to demonstrate new models to dealers at the August year meeting [14] - The company has maintained a strong balance sheet, positioning itself as a buyer of choice for high-quality assets [14] Q&A Session Summary - There were no questions during the Q&A session [15]

Interest Rate Policy - The ECB paused interest rate hikes, holding the deposit rate steady, a decision widely expected [1] - The ECB will make interest rate decisions meeting by meeting, without pre-committing to a specific path, but remains determined to stabilize inflation [1][7] - The market is questioning whether this pause signifies the end of rate hikes or if one more hike is anticipated, and what conditions would prompt rate cuts [2] Economic Outlook and Data Dependency - The ECB is awaiting more economic data and forecasts, particularly clarity on trade deals between Brussels and Washington, before making further decisions [3] - Bloomberg Economics suggests that more rate cuts may be needed in September and December [4] - The Governing Council's interest rate decisions will be based on its assessment of the inflation outlook, risks, economic and financial data, underlying inflation dynamics, and the strength of monetary policy transmission [7] Euro Exchange Rate - The market is interested in Christine Lagarde's comments on the euro exchange rate and its impact on disinflation [5][9] - Euro strength, up 13% year-to-date against the dollar, is a factor influencing inflation [8] - The ECB will be mindful of the exchange rate as a channel to influence inflation, though not explicitly targeting a specific level [9] Risks to Growth and Inflation - The market will interpret an emphasis on downside risks to growth as a signal for potential rate cuts in September [6] - Downside risks to inflation are also a growing concern for the ECB [6] - Potential dumping of Chinese goods into the euro area is an issue, dependent on talks between China and the EU [8]

Neils ChristensenNeils Christensen has a diploma in journalism from Lethbridge College and has more than a decade of reporting experience working for news organizations throughout Canada. His experiences include covering territorial and federal politics in Nunavut, Canada. He has worked exclusively within the financial sector since 2007, when he started with the Canadian Economic Press. Neils can be contacted at: 1 866 925 4826 ext. 1526 nchristensen at kitco.com @Neils_cShareDisclaimer: The views expressed ...

The ECB kept interest rates unchanged for the first time in more than a year https://t.co/utz4q7B8d2 ...

Turkey’s central bank lowered interest rates for the first time since March, resuming a cutting cycle that was derailed by a political crisis stemming from the arrest of a leading opposition figure https://t.co/aW3sCK7ZFu ...

South Africa’s tame inflation has created room for the central bank to cut interest rates at each of its three remaining meetings this year, according to Goldman Sachs Group Inc. and Investec Bank Ltd https://t.co/u7RdyQYRMO ...