With friends like Draghi, banks don't need enemies

11 March, 2019, 10:33 | Author: Billie Castillo
  • European Central Bank joins global push to help economy

The dollar was holding near its new 2019 high posted in the previous session after the ECB postponed an interest rate hike until 2020 and offered banks a fresh round of loans to prevent a credit crunch that could worsen the European Union's economic slowdown.

Compounding concerns was a US payrolls report that fell well short of expectations, although other measures within the report were strong, sending mixed signals to investors.

While investors had long stopped pricing in an ECB rate hike this year, few expected the bank to change its policy message at this meeting.

With a global trade war weighing on confidence, industrial production and exports have slipped, exacerbated by a string of domestic difficulties, from German industry's struggle to adapt to new auto emissions regulations to protests in France.

"There is reason to argue that the European Central Bank would need to keep rates lower than beyond the guidance date because if you look at their inflation forecasts out to 2021, you would need some form of accommodation to reach these levels of growth", said ING senior rates strategist Benjamin Schroeder.

"We are (in) a period of continued weakness and pervasive uncertainty", Draghi told a news conference as he announced cuts to the bank's growth and inflation forecasts.

The ECB's actions highlight how quickly the fortunes of the European and global economy have shifted.

Meghan Markle to Lose Third Aide in Five Months
Cohen, who is originally from Australia, said she would leave the royal household once the new baby had arrived. For me that's my personal preference, ' the expecting Duchess replied.

The ECB has promised not to raise interest rates, "at least" through the end of this year.

"What we have today is the pressure from the cycle", Min Lan Tan, head of the chief investment office for Asia Pacific with UBS Group AG's wealth-management unit, said in an interview with Bloomberg Television. The purchases were a way of pushing newly created money into the economy to raise inflation from dangerously weak levels and support a recovery from the Great Recession and a crisis over too much debt in the eurozone.

European Central Bank actions will improve resilience of economy.

Italian government bond yields also briefly extended falls as investors cheered the report.

The central bank for the 19 countries that use the euro pushed back the earliest date for an increase in interest rates from current record lows.

The ECB looks like they want to stay ahead of the curve, but by revising its forward guidance, it will take away a lot of the punch in the element of surprise from economic data if it does come about in the latter half of this year. "Any next step from here to tackle a severe downswing of the economy would now require unprecedented measures".



Nurkic ejected in testy Thunder-Blazers OT tussle
With only 4 seconds on the clock, and the Blazers down by two points, Nurkic grabbed an offensive rebound and was fouled hard. Oklahoma City Thunder scored a dramatic overtime victory against Portland Trail Blazers in a potential play-off preview.

Michigan Vs. Michigan State Live Stream
MI is 26-4 on the season, 15-4 in the Big Ten , 7-3 on the road, 17-13 against the spread and 17-12 with the under. Clearly, there's more than provincial interest in the matchup, and the victor gets more than bragging rights.

Fears loom over Brexit deal defeat
However, Starmer said the party would not be seeking to secure support in parliament for a second referendum on Tuesday. All eyes on the House of Commons and on Theresa May .

The Unemployment Rate Can Only Go So Low
CT has recovered just 84 percent of lost jobs and must gain another 19,300 to meet pre-recession levels, he said. There were also job losses in the utilities as well as transportation and warehousing industries.

Patriots near deal with Eagles to acquire Michael Bennett
The Philadelphia Eagles are finalizing a trade to send defensive end Michael Bennett to the New England Patriots . Flowers is a two-time Super Bowl champion that averaged seven sacks in three seasons.

Apple's Augmented Reality Headset Could Go Into Production This Year
Most recently, the firm scooped up Akonia Holographics , a startup that makes displays for augmented reality (AR) devices. The next Apple smartphone will also likely bend the knee to augmented reality in ways not yet seen in the iPhone.

Jack Grealish punched by pitch invader in shocking derby incident
They have promised a review of their safety procedures but are likely to face an investigation from the police, EFL and FA. Jack is a Birmingham lad and regardless of club allegiance should not have been subjected to this.

Finland’s centre-right government resigns
The Centre Party chair said that his coalition partners understood his reasons for proposing the government's resignation. Sipilä said that the government would have folded in any event if it failed to push the flagship measure through.

Good News! HIV Now Has A Cure Possible
Two men known collectively to the media as the Boston Patients appeared to be " cured " of HIV following bone marrow transplants. Secondly, they were all " cured " following a bone marrow transplant, which is not only hard and painful but also very risky.

Jussie Smollett Indicted On 16 Felony Counts By Chicago Grand Jury
Empire star Jussie Smollett will be going into the weekend with a legal anvil hanging over his head. One of the brothers, both of whom were detained, was an extra on Smollett's television show.