The move comes as the spread of the coronavirus pandemic and a historic plunge in oil prices of late pose unprecedented threats to the Russian economy.
Central banking
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.
Mnuchin says US-China Trade Deal is 90 Percent Done – Gold Silver Reports
Gold Silver Reports (GSR) – Treasury Secretary Steven Mnuchin said Wednesday that the U.S. and China are inching closer to finalize a long-awaited trade deal.
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.
Fed Minutes: No Rate Moves are Coming ‘for Some Time’ Even if the Economy Improves
Gold Silver Reports (GSR) – Federal Reserve officials remained firmly committed to a “patient” policy stance at their meeting earlier this month, saying rates likely will remain unchanged well into the future.
Draghi: The Governing Council stands ready to adjust all of its instruments
Draghi: The Governing Council stands ready to adjust all of its instruments to ensure that inflation continues to move towards the inflation aim
Fed’s Williams Says New Economic Outlook Necessary For Rate Hikes
New York Fed President John Williams on Tuesday said he was comfortable with the level U.S. interest rates are at now, and sees no need to raise them again unless growth or inflation shift to an unexpectedly higher gear.
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.
Draghi: Central bank Independence
Advanced economies are now emerging from the aftermath of the great financial crisis. Despite facing the largest shock in the postwar period, central banks have succeeded in maintaining price stability and fulfilling their mandates.
ECB’s Draghi Speaks After Central Bank Leaves Rates Unchanged
European Central Bank President Mario Draghi is speaking at a press conference Thursday following the institution’s decision to leave its benchmark interest rate unchanged.