European Central Bank keeps interest rates unchanged
10 March, 2018, 01:53 | Author: Marjorie Miles
The ECB has said purchases will continue at 30 billion euros ($37 billion) monthly at least through September.
The latest monetary policy statement from the bank's governing council no longer mentioned that policymakers stood ready to increase their 30-billion-euro ($37.1 billion) per month asset-purchasing program "in terms of size or duration" if the global outlook becomes less favorable.
Wall Street stocks were also higher in late morning trade, with the Dow up 0.2%.
However, at the last communication of the European Central Bank is missing one sentence, which has so far been present in the announcement of monetary policy decisions, that under less favorable prospects (including inflation) the Governing Council will be ready to increase the size and/or duration of the asset purchase program. That constitutes a step towards ending the crisis-era stimulus measures.
But there is little doubt about the direction of policy and investors still anticipate an European Central Bank rate rise in early 2019. During this time the euro has gained 17.5% against the United States currency.
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"The effect on confidence is very hard to assess, estimate, forecast, but if it's a negative effect on confidence that is going to be negative on both inflation and output", he said.
Draghi seemed to have anticipated the question. Regarding the Latvian banking scandal, Draghi said the ECB did not have enough information on the matter and was sending a letter to the European Court of Justice seeking a clarification on whether the detention of the central bank governor Ilmar Rimsevics were in compliance to the ESCB statute.
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He also talked about the impact a trade war could have...
"He dialed it back a little bit", said Michael O'Rourke, chief market strategist at JonesTrading in Greenwich, Connecticut.
While ECB inflation projections have consumer prices hovering around the 1.5% inflation rate by the end of 2018 and rising gradually over the medium term, Draghi told reporters that underlying inflation measures will remain subdued - so "victory can not be declared yet".
Draghi struck a decidedly more cautious tone as he said the ECB's monetary policy would remain "reactive" amid an outlook of subdued Eurozone inflation.
On the currency markets the dovish message won out.
The euro has turned lower vs. the dollar by 0.3% and the Stoxx 600 has moved from flat to up 0.8%. Against the pound, the euro was 0.13% lower at £0.8916 and fell 0.65% to Y130.81 versus Japan's yen.
"The fear in the market is that a global trade war could influence economic growth in Europe, and if growth is lower there is more danger of a recession and the ECB might be forced to be slower in reducing accommodation", said DZ Bank analyst Pascal Segesser.
France's CAC 40 index surged 1.3% to 5,254.10, its highest close since February 7.
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That game is followed by games against two tanking teams in the Kings and Suns. "It's a little different", Kerr said. Kerr set for discussion: Kerr is set to participate Monday in a town-hall-style discussion on gun violence with U.S.
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As both of Chip and Joanna's sons have names that begin with the letter D, he continues, "I can't think of a D-name". The Fixer Upper duo is already parents to daughters Ella , 11, Emmie Kay , 7, Drake , 12, and Duke , 9.
Damaging winds are in the forecast with gusts of up to 60 miles per hour at Cape Cod and 45 miles per hour at the Jersey shore. Depending on the storm's track, communities along the Interstate 95 corridor could see heavy rain, heavy snow or a mix of both.
Microsoft announced Windows 10 S previous year , the new version of Windows 10 was meant to compete with Chrome OS . We use Win10S as an option for schools or businesses that want the "low-hassle"/guaranteed performance version.
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Additionally, all county offices and the Montgomery County Courthouse were closed on Wednesday . Wind gusts could reach speeds of 35-45 miles per hour and could be potentially damaging.
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It also is increasing community outreach efforts to nursing homes to help address prescription opioid addiction among the elderly. States that saw a slight decrease in opioid overdoses included Massachusetts, New Hampshire, Rhode Island, and West Virginia.
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A first-round pick out of Georgia in the 2013 draft, Ogletree had his best season in 2016, when he was named second-team All-Pro. This had helped him earn a lucrative four-year, $42.7 million extension in October 2017 that had $30 million guaranteed.