ROME (AP) — Roma fired coach Daniele De Rossi on Wednesday in a move that was surprising despite the Giallorossi going winless in their opening four Italian league matches.
Ivan Jurić, who formerly coached Genoa, Hellas Verona and Torino, was hired to replace De Rossi.
De Rossi, a former Roma captain, was hired in January to replace the fired Jose Mourinho and impressed so much during the second half of last season that he was given a contract extension in June through 2026-27.
“The club’s decision is made in the best interests of the team, to get back on the desired path as soon as possible at a time when the season is still in its early stages,” Roma said in a statement. “A heartfelt thank you to Daniele, who will always be at home at the Giallorossi club, for the work done in recent months with passion and dedication.”
Roma added that “communication regarding the team’s technical guidance will follow.”
Roma hosts Serie A leader Udinese on Sunday.
Jurić, who signed a contract until the end of the season, coached Torino the last three seasons, leading the club to 10th-place finishes in his first two campaigns and ninth place last season.
It's the first coaching change in Serie A this season.
After opening with a scoreless draw at Cagliari, Roma was beaten 2-1 at home by Empoli. Draws at Juventus (0-0) and Genoa (1-1) followed — leaving Roma with only three points and in 16th place.
De Rossi had transformed Roma into a better attacking unit than Mourinho’s defensive teams but this season has produced only two goals.
Next week, Roma opens its Europa League campaign against Athletic Bilbao at the Olimpico.
Romelu Lukaku’s loan spell at Roma ended after last season but talented striker Paulo Dybala stayed with the club after considering a move to Saudi Arabia.
Roma’s American owners Dan and Ryan Friedkin have often made surprising decisions.
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FILE - Roma's head coach Daniele De Rossi calls out to his players during the Europa League quarterfinal first leg soccer match between AC Milan and Roma at the San Siro Stadium, in Milan, Italy, Thursday, April 11, 2024. (AP Photo/Antonio Calanni, File)
FILE - Roma manager Daniele De Rossi speaks to his team during a Serie A soccer match against Atalanta at Gewiss Stadium, in Bergamo, Italy, Sunday, May 12, 2024. (Spada/LaPresse via AP, File)
FILE - Roma's head coach Daniele De Rossi waits for the start of the Europa League second leg semi-final soccer match between Leverkusen and Roma at the BayArena in Leverkusen, Germany, Thursday, May 9, 2024. (AP Photo/Matthias Schrader, File)
LONDON (AP) — The Bank of England kept its main interest rate unchanged at 5% Thursday despite a big cut from the U.S. Federal Reserve, its first since the onset of the coronavirus pandemic more than four years ago.
The decision was widely expected amid ongoing concerns about inflation within the bank’s monetary policy committee, particularly the elevated levels in the crucial services sector, which accounts for around 80% of the British economy. Figures on Wednesday showed that inflation overall in the U.K. held steady at an annual rate of 2.2% in August, still above the bank’s goal.
Minutes to the meeting showed that eight of the nine members of the panel voted to keep rates unchanged, while one backed a quarter-point reduction.
“The economy has been evolving broadly as we expected. If that continues, we should be able to reduce rates gradually over time,” said Bank Gov. Andrew Bailey. "But it’s vital that inflation stays low, so we need to be careful not to cut too fast or by too much.”
The bank, which last month cut interest rates for the first time since the pandemic, is widely expected to reduce borrowing costs again at its next meeting in November, especially as it will have details of the government’s budget on Oct. 30.
On Wednesday, the Fed cut its main interest by half of a percentage point to roughly 4.8% from a two-decade high of 5.3%, where it had stood for 14 months. It also signaled that there will be more cuts to come in the next few months.
Central banks around the world dramatically increased borrowing costs from near zero during the coronavirus pandemic when prices started to shoot up, first as a result of supply chain issues built up and then because of Russia’s full-scale invasion of Ukraine which pushed up energy costs. As inflation rates have fallen from multi-decade highs recently, they have started cutting interest rates.
On Wednesday, the Fed became the latest major central bank to reduce borrowing costs, cutting its main interest by half of a percentage point to roughly 4.8% from a two-decade high of 5.3%, where it had stood for 14 months. It also signaled that there will be more cuts to come in the next few months.
The Bank of England is widely expected to reduce borrowing costs again at its next meeting in November, especially as it will have details of the government's budget on Oct. 30.
The new Labour government has said that it needs to plug a 22 billion pound ($29 billion) hole in the public finances and has indicated that it may have to raise taxes and lower spending, which would likely weigh on the near-term outlook for the British economy and put downward pressure on inflation.
Luke Bartholomew, deputy chief economist at abrdn, formerly Aberdeen Asset Management, said the Bank of England "will need to incorporate any fiscal changes in its next forecasts, which could provide the foundation for more rapid cuts in due course.”
Bank of England widely expected to hold interest rates despite big US Fed cut
FILE - The Bank of England is pictured in London, on Aug. 1, 2024. (AP Photo/Alberto Pezzali, File)
Bank of England widely expected to hold interest rates despite big US Fed cut
