Just when the global markets were coming to terms with Trump’s disruptive trade policies, the US President announced his paln to impose reciprocal tariffs on countries, instead of a blanket tariff. This has further muddied the trade waters and increased volatility in markets.
EU
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.
EU Stops No-Deal Crash Now, Kicking Can to April: Brexit Update
European leaders maneuvered to stop a chaotic no-deal Brexit happening next week, handing the U.K. an extra two weeks. The cliff-edge that investors were dreading has been postponed — but a new cliff-edge loom on April 12 when the U.K. will have to decide on the way forward.
‘No-deal’ Would Prevail if UK’s Brexit plan Unclear by Next Week: France
Gold Silver Reports (GSR) – Britain would only be granted an extension to the Article 50 Brexit negotiation period if its parliament passed the deal on the table or if a clear alternative plan emerged by next week’s EU summit, a French official said on Friday.
Brexit: MPs Reject Theresa May’s Deal for a Second Time
Theresa May’s EU withdrawal deal has been rejected by MPs by an overwhelming majority for a second time, with just 17 days to go to Brexit.
Brexit: UK Cabinet Office Minister Lidington says this evening PM has secured legally binding changes that strengthen and improve withdraw agreement
David Lidington: Brexit negotiations are continuing. Parliament will vote on improved deal tomorrow. – BBG
Brexit vote: EU President Says UK Remaining is only option ‘if a Deal is Impossible, and No one wants No Deal’
The president of the European Council has dared British politicians to back remaining in the EU after Theresa May’s Brexit deal was voted down by the House of Commons by a historic margin of failure.
UK, EU Agree Tentative Brexit Deal on Financial-Services: The Times
British and European negotiators have reached tentative agreement on all aspects of a future partnership on services, as well as the exchange of data, the British newspaper reported, citing government sources.
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.