As the world’s largest nations send out helicopter money amounting to well more than 10% of their gross domestic product to fight the economic effects of the coronavirus pandemic, China, which just suffered its first economic contraction in two decades, is conspicuous for its stinginess.
banks
Federal Reserve chairman Jerome Powell announced an interest rate cut of 0.25% Wednesday
Federal Reserve chairman Jerome Powell announced an interest rate cut of 0.25% Wednesday, confirming analysts’ expectations of a cut amid softening inflation, a strong consumer economy and an uncertain international trade outlook.
Fed Holds Interest Rates Steady but Opens Door to a Cut – Gold Silver Reports
Federal Reserve officials left interest rates unchanged at their June meeting but opened the door to a cut if President Trump’s trade fight intensified and risks to the American economy increased.
European Central Bank (ECB) said it would Delay its First Post-Crisis interest Rate Hike until at Least the Middle of Next Year.
Gold Silver Reports (GSR) – The euro climbed higher against the U.S. dollar on Thursday, after the European Central Bank (ECB) said it would delay its first post-crisis interest rate hike until at least the middle of next year. In a move that was well-flagged, ECB President Mario Draghi also offered to pay banks if they borrow cash from the central bank and pass it on to households and firms.
US Fed ‘Patient’ on Further Rate Hike: FOMC Minutes
The latest minutes of the US Federal Reserve (Fed) monetary policy meeting showed that the central bank was still “patient” on further rate hikes.
LIVE – ECB Press Conference – 13 December 2018
Gold Silver Reports (GSR) — Analysts will likely look out for comments from Draghi on the ECB’s outlook for economic growth and inflation, as well as details on the central bank’s reinvestment plans for maturing bonds.
Banks Extend Gains After Government Cuts Borrowing Plan
Banks Extend Gains After Government Cuts Borrowing Plan
Shares of government and private sector lenders were trading higher after the government cut its first half borrowing plan to 48 percent of its budgeted borrowings.
Gauge of state-run lenders — Nifty PSU Bank index rose 1.4 percent and the gauge for banks — Nifty Bank index gained 0.87 percent.