The euro moved up against its major trading partners in the European session on Thursday, after European Central Bank Chief Christine Lagarde suggested that there were encouraging signs of stabilization in the euro area growth slowdown and a moderate increase in inflation pressures despite continued...
European Central Bank's new chief Christine Lagarde said on Thursday that her style of communication cannot be compared to her predecessors as she revealed that a planned strategic review of the bank's monetary policy is set to begin in January and complete by the end of the year.
With higher prices for goods offsetting lower prices for services, the Labor Department released a report on Thursday showing U.S. producer prices came in unchanged in the month of November. The Labor Department said its producer price index for final demand was flat in November after climbing by 0.4 percent in October. Economists had expected prices to rise by 0.2 percent.
First-time claims for U.S. unemployment benefits jumped by much more than expected in the week ended December 7th, according to a report released by the Labor Department on Thursday. The report said initial jobless claims surged up to 252,000, an increase of 49,000 from the previous week's unrevised level of 203,000.
The European Central Bank left its key interest rates, asset purchases and forward guidance unchanged on Thursday, in the first policy session chaired by the new chief Christine Lagarde. The Governing Council decided to hold the refi rate unchanged at a record low 0 percent, the deposit rate at -0.50 percent and the marginal lending rate at 0.25 percent.
The Turkish central bank again cut its key interest rate sharply, citing a continued recovery in the economic activity and a broad decline in inflation expectations. The Monetary Policy Committee, led by TCMB Governor Murat Uysal, decided to reduce the policy rate, which is the one-week repo auction rate, to 12.00 percent from 14.00 percent. Economists had forecast a cut to 12.50 percent.
The Swiss franc drifted higher against its major trading partners in the European session on Thursday, after the Swiss National Bank maintained its negative interest rates and expressed willingness to intervene in the forex market to stabilize price developments and support economic activity.
The...
Switzerland's central bank maintained its negative interest rates and expressed willingness to intervene in the currency market as required. The Swiss National Bank retained its policy rate and interest on sight deposits at the SNB at -0.75 percent on Thursday. The decision came in line with expectations. The bank said the franc remains highly valued.
The interest rate announcement from the European Central Bank is due on Thursday, headlining a busy day for the European economic news.The European Central Bank is set to leave its monetary policy unchanged in the first meeting chaired by its new chief, Christine Lagarde. The main refi rate is at a record low zero percent, and the deposit rate is at -0.50 percent.
The U.S. dollar drifted down against rivals on Wednesday after the Federal Reserve left interest rates unchanged and the Fed chair Jerome Powell said he would not consider raising rates until inflation picks up significantly.
After three consecutive interest rate cuts, the Federal Reserve on Wednesday announced its widely expected decision to leave rates unchanged. The Fed said its Federal Open Market Committee decided to maintain the target range for the federal funds rate at 1-1/2 to 1-3/4 percent on the heels of three straight quarter-point reductions.
The European Central Bank is set to leave its monetary policy unchanged on Thursday in the first meeting chaired by its new chief, Christine Lagarde, and markets will be closely watching how she communicates the message from the central bank on the euro area economy amid sluggish growth and low inflation.
A report released by the Labor Department on Wednesday showed consumer prices in the U.S. increased by slightly more than anticipated in the month of November. The Labor Department said its consumer price index rose by 0.3 percent in November after climbing by 0.4 percent in October. Economists had expected prices to edge up by 0.2 percent.
The Asian Development Bank downgraded its growth projections citing challenging global environment. In the Asian Development Outlook 2019 Supplement, released Wednesday, the lender said developing Asia will grow 5.2 percent in both 2019 and 2020. The projection for 2019 was lowered from 5.4 percent and that for next year from 5.5 percent.
The U.S. dollar was weak against most major currencies on Tuesday ahead of the deadline for additional U.S. tariffs on Chinese imports and on continued uncertainty about a 'phase one' trade deal between the U.S. and China.