◾ The US Federal Reserve decided yesterday to keep its policy on hold and made only minimal changes to its statement, suggesting that a tapering decision is still possible later this year as the economy continued to expand at a moderate pace, while labour market conditions have shown some further improvement.
◾ The ECB will provide more liquidity by the time cheap long-term loans will expire, ECB's Nowotny said in an interview this morning, adding they want to avoid sudden stress on money markets from an abrupt end to the loans.
◾ The Bank of Japan decided this morning to keep its monetary policy steady in line with expectations. In its semi-annual outlook, the BOJ reiterated that the economy has been recovering moderately and slightly upgraded its GDP forecasts, although it warned of headwinds from overseas.
◾ According to the first estimate, Belgian GDP growth picked up in the third quarter to 0.3% Q/Q, from 0.2% Q/Q in the April to June period. While no details were available, growth was likely driven by domestic demand.
◾ The Reserve Bank of New Zealand decided this morning to keep its rate unchanged at 2.50% and reconfirmed that rate increases are coming next year, although warned the strength of the kiwi dollar will influence the speed and magnitude of rate hikes next year. The kiwi dollar weakened this morning.
◾Today, the eco calendar contains the euro zone CPI inflation data, the euro zone unemployment rate, US jobless claims and Chicago PMI. Tomorrow, most European markets will be closed in observance of All Saints Day
◾ The ECB will provide more liquidity by the time cheap long-term loans will expire, ECB's Nowotny said in an interview this morning, adding they want to avoid sudden stress on money markets from an abrupt end to the loans.
◾ The Bank of Japan decided this morning to keep its monetary policy steady in line with expectations. In its semi-annual outlook, the BOJ reiterated that the economy has been recovering moderately and slightly upgraded its GDP forecasts, although it warned of headwinds from overseas.
◾ According to the first estimate, Belgian GDP growth picked up in the third quarter to 0.3% Q/Q, from 0.2% Q/Q in the April to June period. While no details were available, growth was likely driven by domestic demand.
◾ The Reserve Bank of New Zealand decided this morning to keep its rate unchanged at 2.50% and reconfirmed that rate increases are coming next year, although warned the strength of the kiwi dollar will influence the speed and magnitude of rate hikes next year. The kiwi dollar weakened this morning.
◾Today, the eco calendar contains the euro zone CPI inflation data, the euro zone unemployment rate, US jobless claims and Chicago PMI. Tomorrow, most European markets will be closed in observance of All Saints Day
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