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All 40 of the economists polled by Reuters said the Swiss National Bank (SNB) will confirm current interest rates, and the rate-setters are expected to offer few changes to forward guidance when they announces their latest monetary policy Thursday, 21 June (0830 GMT).
Along with the rate decision, the SNB is also scheduled to provide its latest forecasts for this year’s Swiss GDP growth and domestic inflation projections for 2018-2020.
The bank is expected to hold the interest rate for sight deposits at -0.75pct, a record low, and the target range for the three-month Libor at -1.25pct and -0.25pct. Switzerland cut its key rate to -0.75pct in January 2015. (LiveSquawk - Continue Reading)
All 40 of the economists polled by Reuters said the Swiss National Bank will confirm current interest rates, and the rate-setters are expected to offer few changes to forward guidance when they announces their latest monetary policy Thursday (0830 GMT). Along with the rate decision, the SNB is also scheduled to provide its latest forecasts for this year’s Swiss GDP growth and domestic inflation projections for 2018-2020.
The bank is expected to hold the interest rate for sight deposits at -0.75pct and the target range for the three-month Libor at -1.25pct and -0.25pct.
SNB Chairman Thomas Jordan is scheduled to face the media at a 0900 GMT press conference in Bern following the rate announcement. Jordan and the bank have repeatedly stated that the Swiss franc remains “highly valued”, a phrase they will likely reiterate Thursday.
The European Central Bank last week rolled out its plan to taper and then end its bond purchase and said it would hold rates steady “through” next summer, but few analysts expect Swiss central bankers to alter their forward guidance. (LiveSquawk – Continue Reading)
OPEC members are discussing a compromise agreement that would see an oil production increase of between 300,000 and 600,000 barrels a day over the next few months, according to people briefed on the talks.
While Iran said on Sunday it’s opposed to any increase to current quotas, officials from a number of other countries are optimistic that an agreement can be won for a relatively modest hike at this week’s meeting in Vienna, the people said, asking not to be named discussing private conversations. (Bloomberg – Continue Reading)
Contrary to much received wisdom, in most circumstances, the level of a government’s budget deficit and the accumulated stock of its debt have hardly any impact on the yield on its bonds. As long as the markets are confident that there will not be a default, then they are usually willing to soak up enormous amounts of government debt without turning a hair.
Instead, they focus on two things – short-term interest rates and the prospects for inflation. The former gives the opportunity cost of holding bonds, and the latter defines the prospect of real capital loss through rising prices. (Telegraph – Continue Reading)
The United States has nearly completed a second list of tariffs on $100 billion (75.44 billion pounds) in Chinese goods, as President Donald Trump prepares to enact an initial round of duties that is expected to trigger an in-kind response from Beijing, several sources said.
The second wave of products has been cued up as Washington prepares to announce on Friday a list of about $50 billion of goods to be targeted. They are part of Trump’s decision to go forward with “pretty significant” tariffs, an administration official said on Thursday. (Reuters – Continue Reading)
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