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Mario Draghi: The risks remain balanced, but uncertainty is growing

September 17, 2018 8:21 pm0 comments
Mario Draghi: The risks remain balanced, but uncertainty is growing

The risks to the economic development of the Eurozone remain balanced and growth continues to support confidence in achieving target inflation. This was stated by the Governor of the European Central Bank Mario Draghi after the decision of the Eurozone monetary regulator was announced. However, he warned of growing uncertainty about protectionism, the vulnerability of emerging markets and the volatility of financial markets. “The Governing Council is ready to use […]

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China reported better-than-expected figures on industrial production and retail sales

8:14 pm0 comments
China reported better-than-expected figures on industrial production and retail sales

China reported better-than-expected figures for industrial production and retail, although a key investment figure reached a new record low. It sheds light on the challenges faced by the Beijing authorities in their attempts to support the economy by fighting US duties. The new data confirm the consensus conclusions that the world’s second-largest economy is cooling down but is not yet under threat. The industrial production grew by 6.1% in August […]

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Russian Central Bank unexpectedly raised interest rates

8:00 pm0 comments
Russian Central Bank unexpectedly raised interest rates

The Russian Central Bank unexpectedly raised interest rates for the first time since 2014, following central bank policy in emerging markets, as inflationary risk is rising in conditions of devaluation and threat of the US sanctions. The key interest rate in the country was increased from 7.25% to 7.50%. The central bank even said they would “consider the need for further increases”. Given what is happening in the markets, the […]

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The European Central Bank expectedly kept the interest rates unchanged

September 13, 2018 1:42 pm0 comments
The European Central Bank expectedly kept the interest rates unchanged

The European Central Bank (ECB) expectedly kept the interest rates unchanged, but has signaled that net asset purchases will end in December only if macro data confirm its medium-term inflation expectations. This is clear from today’s decision of the ECB published on the institution’s website. At today’s meeting the ECB kept unchanged the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and […]

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Turkish lira appreciated by more than 5% country’s central bank raised interest rates

1:35 pm0 comments
Turkish lira appreciated by more than 5% country’s central bank raised interest rates

The Turkish lira appreciated by more than 5% after the country’s central bank raised interest rates despite Turkish President Recep Tayyip Erdogan’s call to do the opposite to reduce credit costs. The currency offset an earlier decline after central bankers raised their key seven-day repo rate by 625 basis points to 24%. Earlier in the day, Erdogan criticized bankers for causing a depreciation of the currency. “The central bank is […]

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