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Central Bank Day | Trade War Ceasefire?
Published September 13, 2018
The Bank of England kept interest rates at 0.75% on Thursday and highlighted greater financial market concerns about Brexit, one month after raising borrowing costs for only the second time in more than a decade. The BOE voted unanimously to hold rates in line with economists’ expectations.
The European Central Bank has left its policy stance unchanged at their meeting on Thursday as inflation did not seem to accelerate and growth remains solid. The central bank stated it does not plan to change this monetary policy until summer 2019.
The Chinese Commerce Ministry stated that the country had received an invitation from the US to continue working on details of a new round of trade talks. President Trump has not yet imposed the extra tariffs on $200 billion of Chinese goods, despite the expiry of the public comment period last week.
Turkey’s central bank sharply increased its benchmark lending rate as it looks to overcome heavy declines in the lira. The one-week repo rate was increased to 24% from 17.75%. The lira jumped sharply on the decision, trading upwards as much as 5.3% on the greenback.