STOXX 50指数收盘上涨0.5%，此前在上涨和下跌之间波动，这得益于美国商务部长霍华德·卢特尼克周四发表评论后的关税减免。卢特尼克表示，一个月的豁免可能不仅限于汽车制造商。此外，据报道，特朗普政府正在考虑豁免某些农产品对墨西哥和加拿大的关税。在欧洲，欧洲央行实施了预期的降息，但在上调近期通胀预测的同时，对未来的利率走势采取了更为谨慎的立场。在盈利方面，法航荷航在公布全年和第四季度利润强于预期后飙升近14%。汉莎航空股价上涨7%，预计今年利润将反弹。与此同时，德国邮政在公布10亿欧元的成本削减计划后上涨了近12%。

The STOXX 50 rose 0.5% by the close of trading, after fluctuating between gains and losses, boosted by tariff relief following comments from U.S. Commerce Secretary Howard Lutnick, who indicated on Thursday that one-month exemptions could extend beyond just automakers. Also, the Trump administration is reportedly considering exemptions for certain agricultural goods from tariffs on Mexico and Canada. In Europe, the European Central Bank implemented the expected interest rate cut but adopted a more cautious stance on future rate moves while revising its near-term inflation forecasts upward. On the earnings front, Air France-KLM surged nearly 14% after reporting stronger-than-expected full-year and Q4 profits. Lufthansa rose 7%, projecting a rebound in profits this year. Meanwhile, Deutsche Post jumped almost 12% after unveiling a €1 billion cost-cutting plan.

欧洲股市指数在下午交易中延续下跌，STOXX 50和STOXX 600均下跌0.8%，此前欧洲央行公布了预期的降息，但对未来走势采取了更为谨慎的基调。欧洲央行修改了声明中的措辞，表示货币政策正变得“限制性大大降低”，这表明进一步降息可能至少要到6月才能实现。这一转变是在德国宣布支出计划及其对通胀的潜在影响之后发生的。在其他地方，投资者对特朗普政府决定将墨西哥和加拿大的汽车关税推迟一个月做出了积极回应。在盈利方面，法航荷航在全年和第四季度利润均超出预期后，飙升了约14%。汉莎航空也上涨了7%，预计今年利润将反弹。此外，德国邮政在公布10亿欧元的成本削减计划后上涨了近12%。

European stock indexes extended their losses in afternoon trading, with both the STOXX 50 and the STOXX 600 falling by 0.8%, after the European Central Bank delivered the expected interest rate cut but adopted a more cautious tone regarding future moves. The ECB revised its language in the statement, indicating that monetary policy is becoming "meaningfully less restrictive," which suggests that further rate cuts may be off the table until at least June. This shift followed the announcement of Germany's spending plans and their potential impact on inflation. Elsewhere, investors responded positively to the Trump administration’s decision to delay auto tariffs on Mexico and Canada for one month. On the earnings front, Air France KLM surged by around 14% after exceeding expectations for both full-year and Q4 profits. Lufthansa also gained 7%, forecasting a rebound in profits this year. Additionally, Deutsche Post jumped nearly 12% after unveiling a €1 billion cost-cutting plan.

欧元逼近1.08美元，为11月以来的最高水平，交易员们正在为欧洲增加支出和借贷做准备，这可能有助于支持该地区苦苦挣扎的经济。市场也继续关注欧洲央行即将出台的货币政策决定。预计欧洲央行将第六次下调关键存款利率，将其降至2.5%。然而，在充满挑战和不确定的经济背景下，交易员们正在降低对进一步降息的预期。与此同时，欧盟领导人将于今天召开国防特别会议。欧盟委员会主席乌尔苏拉·冯德莱恩已经提出了一项8000亿欧元的计划，该计划将使欧盟成员国能够在持续的预算挑战下大幅增加国防开支。她的提议包括给予各国更大的国防投资财政灵活性，以及1500亿欧元的贷款来支持这些努力。

The euro approached $1.08, its highest level since November, as traders braced for increased spending and borrowing in Europe, which could help support the region’s struggling economy. Markets also remained focused on the European Central Bank’s upcoming monetary policy decision. The ECB is expected to cut its key deposit rate for the sixth time, bringing it down to 2.5%. However, traders are scaling back expectations for further rate cuts amid a challenging and uncertain economic backdrop. Meanwhile, European Union leaders are set to convene today for an extraordinary meeting on defense. European Commission President Ursula von der Leyen has already proposed an €800 billion plan that would enable EU member states to significantly boost defense spending despite ongoing budgetary challenges. Her proposal includes granting countries greater fiscal flexibility for defense investments, along with €150 billion in loans to support these efforts.

预计欧洲央行将在2025年3月将其关键利率下调25个基点，这是自2024年宽松周期开始以来第六次降低借贷成本。此举将使基准存款利率降至2.5%，这是2023年初的最后一个水平，因为由于能源价格的基础效应，通货膨胀在前几个月预期加速后降至2.4%。投资者将密切关注有关欧洲央行今年剩余时间政策前景的任何信号，尤其是自上次会议以来经济状况发生了变化，仍然存在不确定性和波动性。特朗普政府加剧了贸易紧张局势，尽管尚未宣布对欧盟征收具体关税，但可能很快就会实施。此外，欧洲国家，特别是德国，将增加国防开支，以回应美国缩减对乌克兰和欧洲的军事支持的决定。欧洲央行还将发布新的宏观经济预测。

The ECB is expected to lower its key interest rates by 25bps in March 2025, marking the sixth reduction in borrowing costs since the easing cycle began in 2024. This move would bring the benchmark deposit rate down to 2.5%, a level last seen in early 2023, as inflation eases to 2.4% following an anticipated acceleration in previous months due to base effects from energy prices. Investors will closely monitor any signals regarding the ECB’s policy outlook for the remainder of the year, especially as economic conditions have shifted since the last meeting and remain uncertain and volatile. The Trump administration has escalated trade tensions, and although no specific tariffs on the EU have been announced yet, they could be introduced soon. Additionally, European countries are set to increase defense spending, particularly Germany, in response to the US decision to scale back military support for Ukraine and Europe. The ECB will also release fresh macroeconomic projections.