The SNB announces its June monetary policy meeting decision – 21 June 2018 Here’s the meeting statement: Nothing new from the SNB as expected, mainly a reiteration of the previous message seen in March and a slight upgrade to this year’s inflation forecast – as expected as well.
Comments by Ireland’s foreign minister Simon Coveney Pretty much confirms that there will be no progress in any way made when Brexit talks come to the table on the EU Summit later next week. October it is then, until the can gets kicked down the road again that is.
Comments by ECB member Jens Weidmann Nothing new as well from Weidmann. If anything, it feels like he’s less hawkish than usual. But considering he’s one of the favourites to take over from Draghi come October next year, he probably doesn’t want to pre-commit as well since the call for higher rates would then fall…
Comments by Iraq’s oil minister Jabbar Alluabi Iraq is among those supporting Iran and Venezuela to keep the existing OPEC+ agreement as it is at least until the end of 2018. Saudi Arabia on the other hand wants to open its taps again, so it’ll be interesting to see which side – if any –…
No change in the bank rate is expected, but it’s all about the language Or should I say, it’s all about whether or not the central bank offers any hints of an August rate hike. The two things to watch out for today will be the votes and the guidance/language by the central bank.
Comments by ECB member Villeroy in Paris Nothing new here from Villeroy. Reiterating the same rhetoric that the ECB is confident that inflation is moving upwards still.
Further comments by Saudi oil minister Khalid Al-Falih Sure, when you’re the only one with spare capacity then everything seems that easy.
But autos sector weighing down the Eurostoxx and DAX This comes after Daimler issued a profit warning, blaming the US-China trade war, saying it has impacted sales and profits of the SUVs it builds in Alabama. The rest of the region is seeing mild positive tones, and that’s not too surprising given the performance of…
Early signs of a risk-off move is being observed USD/JPY has pared all gains on the day and trades near the lows now at 110.35, meanwhile US 10-year yields have also fallen to session lows of 2.91%. S&P 500 futures have also turned negative and European equities are all seeing red.
Comments by SNB board member Andrea Maechler Meanwhile, Jordan refuses to comment on when normalisation may start and says that he doesn’t want to speculate on the effects of ECB ending its QE programme.