Australia's central bank is focused on the jobs market and said it will adjust policy if needed to support economic growth and keep inflation on track to return to target. In minutes of its July 2 meeting, when it cut interest rates for a second month to a record-low 1%, the Reserve Bank noted wages growth remained low overall and œspare capacity was likely to remain in the labor market for some time. The easing would œpromote stronger overall economic conditions, it said Tuesday. œThe extent of spare capacity in the economy, and the likely pace at which it would be absorbed,...
Swiss National Bank introduces new policy rate to replace three-month Libor band since future of Libor is uncertain. Keeps deposit rate unchanged at -0.75%, as forecast by economists in Bloomberg survey. SNB will remain active in FX market as necessary. Says CHF remains highly valued. Sees 2019 CPI at 0.6%, 2020 at 0.7%, 2021 at 1.1%. Source : Bloomberg
The European Central Bank (ECB) President Mario Draghi, via Reuters, delivering the opening address at the ECB conference on Central, Eastern, and South-Eastern European countries (CESEE), in Frankfurt. Global trade has faced headwinds in recent years. Institutional quality is still below the euro area average in almost all CEE economies. Economies need to find new ways to boost TFP growth and deepen capital accumulation in order to œgrow out of their vulnerabilities. Source : FXstreet
Mario Draghi hardened his language as he said the European Central Bank wont shy away from action to support the euro-area economy as growth weakens. Policy makers are œdetermined to act if needed, citing the œprolonged persistence of uncertainties and the œrising threat of protectionism, the ECB president said in Vilnius after the Governing Council met. Some officials raised the prospect of interest-rate cuts or restarting quantitative easing and there is œconsiderable headroom for more QE, he added. council extended its pledge to keep interest rates at record...
The European Central Bank stepped up support for the euro-area economy by extending its pledge to keep interest rates at record lows, while also reaching agreement on how to infuse lenders with more cheap cash. The Governing Council, which met in Vilnius, now expects borrowing costs to stay on hold at least through the first half of 2020, or six months longer than previously. The cost of long-term bank loans can fall as low as the deposit rate, currently minus 0.4%, plus 0.1 percentage point. The euro was trading 0.4% higher at $1.1260 at 1:54 p.m. Frankfurt time. German bond...
Federal Reserve Chairman Jerome Powell signaled an openness to cut interest rates if necessary, pledging to keep a close watch on fallout from a deepening set of disputes between the U.S. and its largest trading partners. Referring to œtrade negotiations and other matters, Powell said that œwe do not know how or when these issues will be resolved, according to the text of a speech hes set to deliver Tuesday in Chicago. œWe are closely monitoring the implications of these developments for the U.S. economic outlook and, as always, we will act as appropriate to...
Bank of England Governor Mark Carney said on Monday that the possibility of Britain leaving the European Union next month without a transition deal ranked as the riskiest Brexit scenario for the...
Federal Reserve Chairman Jerome Powell on Tuesday suggested an interest-rate cut in July, widely expected by investors and economists, is not a done deal.
While greater uncertainty about trade and...