<p>RBA announces a package of coronavirus response today. Firstly, cash rate is cut by 25bps to 0.25%. Additionally, the central bank will start purchases of government bonds to keep 3 year yield at around 0.25%, starting tomorrow. A three-year funding facility will also be set up to provide credit support to small and medium-sized businesses

<p>ECB’s massive EUR 750B Pandemic Emergency Purchase Programme announced overnight won praises from top European politicians. French President Emmanuel Macron said he gives “full support for the exceptional measures taken this evening by the ECB.” He added,”it is now up to us, the European states, to step up to the pl

<p>SNB kept sign deposit rate unchanged at -0.75% today. It noted that coronavirus is posing &#8220;exceptionally large challengers&#8221; for Switzerland, and the expansionary monetary policy is &#8220;more necessary than ever&#8221; for ensuring appropriate monetary conditions. The central bank is &#8220;intervening more

<p>SNB Chairman Thomas Jordan emphasized today key coronavirus measures “do not come from central banks”. Instead, they come from “medical measures and also from the fiscal side”. For the central bank, “we have to provide the financial system with enough liquidity to ensure the credit flow to the economy does not

<p>Ifo institute said in its spring forecast that the global economy is &#8220;collapsing&#8221; as a result of coronavirus pandemic. Global GDP would grow only 0.1% this year, comparing with 2.6% last year. World trade would see a decline of -1.7%. There are also &#8220;considerable&#8221; downside risks in the forecast. Germ

<p>Eurozone CPI was finalized at 1.2% yoy in February, slowed from 1.4% yoy. The largest contribution came from services (+0.72%), followed by food, alcohol &#38; tobacco (+0.41%), non-energy industrial goods (+0.13%) and energy (-0.03%). EU27 CPI was finalized at 1.6% yoy, down from 1.7% yoy. The lowest annual rates were registered in It

<p>ECB Executive Board member Isabel Schnabel told German news paper Die Zeit that the central bank is “ready to do everything in its mandate to counter market turmoil that disrupts monetary policy transmission, otherwise monetary policy cannot function,””. But she also cautioned against overestimating the power of central b

<p>Canada CPI slowed to 2.2% yoy in February, down from 2.4% yoy, but beat expectation of 2.1% yoy. CPI common was unchanged at 1.8% yoy, matched expectations. CPI median slowed to 2.1% yoy, down from 2.2% yoy, missed expectation of 2.2% yoy. CPI trimmed slowed to 2.0% yoy, down from 2.1% yoy, missed expectation of […]

<p>US commercial crude oil inventories rose 2.0m barrels in the week ending March 13, below expectation 3.5m barrels. At 453.7m barrels, inventories are about 3% below the five year average for this time of year. WTI crude oil break through 27.69/50 key support level today and stays weak after the release. Near term outlook will […]

<p>Once again, it seems that emergency fiscal and monetary measures by global governments and central banks couldn’t be cared less by investors. US Congress’ second stimulus package, ECB’s massive EUR 750B pandemic emergency purchase program, RBA’s rate cut and government bond buying, are all shrugged off. Optimism won