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humor Cloud Macro 2026-07-25

ECB Holds Rates: Baja Expat Only Worries If It Affects Margarita Prices

The European Central Bank decided to hold interest rates steady, with whispers of a September hike due to energy price volatility. Across the ocean in Baja, this news was met with the collective shrug only a perfectly chilled michelada can inspire. One expat, briefly looking up from his Kindle, pondered if it might somehow trickle down to the cost of limes, before resuming his pursuit of ultimate relaxation.

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