MNI China Daily Summary: Friday, January 10

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AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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ECB: Schnabel Firms Language, Sees "Limited" Room for Rate Cuts

ECB
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ECB's Schnabel sees only limited room for further rate cuts, adding that the ECB shouldn't go "accommodative" on interest rates, according to a Bloomberg interview, in what represents a firmer tone on policy ahead from the executive board member.

EUR/USD presses to new daily highs on the back of the Schnabel comments - she had previously been quoted as saying the ECB "mustn't rush further rate cuts" and used the word "gradual" to describe the approach to removing restrictive policy. Today's comments look to have upped the ante on that rhetoric - specifically the phrase "limited room" for further rate cuts.

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ECB's Schnabel sees only limited room for further rate cuts, adding that the ECB shouldn't go "accommodative" on interest rates, according to a Bloomberg interview, in what represents a firmer tone on policy ahead from the executive board member.

EUR/USD presses to new daily highs on the back of the Schnabel comments - she had previously been quoted as saying the ECB "mustn't rush further rate cuts" and used the word "gradual" to describe the approach to removing restrictive policy. Today's comments look to have upped the ante on that rhetoric - specifically the phrase "limited room" for further rate cuts.

Keep reading...Show less