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ECB Hold Key Rates Steady | US Jobless Claims Drop to 49 Year Low

Published January 24, 2019
  • The European Central Bank has left its interest rates and its monetary policy message unchanged, moves that were widely expected. The Central Bank further said that they expect the key interest rates to remain at their present levels through the summer of 2019 and longer if necessary.
  • The number of Americans filing applications for unemployment benefits dropped last week to the lowest level since November 1969, a sign the job market remains strong despite the partial government shutdown that is now in its fifth week. Initial claims for state unemployment benefits dropped 13,000 to a seasonally adjusted 199,000.
  • Bank of England Governor Mark Carney said Britain’s banking system is in good shape to deal with the prospect of the country crashing out of the European Union on March 29 without a deal. Carney reiterated that the BoE had room to react to a hard Brexit, adding that policy could move in either direction in such a scenario.
  • The US Senate is likely to vote this week on bills that, if passed, could end the month-long partial government shutdown. Both the Republican and Democratic measures are expected to fall short of the votes needed to pass, likely continuing the deadlock over government funding.