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EMERGING MARKETS: ECB's Knot on Quarterly Policy Assessments, Hezbollah Comments

EMERGING MARKETS
EM BulletHomepagemarkets-real-timeBulletEmerging Market NewsEuropean Central Bank (ECB) Market News
  • ECB’s Knot Sees Strong Case for Quarterly Policy Assessments - There’s a “strong case” for the European Central Bank to decide on interest rates once a quarter when new economic projections are available, according to Governing Council member Klaas Knot. Officials have “little experience” with easing monetary policy gradually and are faced with still-high uncertainty and structural shifts in the global economy that warrant a “data-dependent approach,” Knot said in a speech in Milan on Thursday.
  • MNI (Beijing) - China's Loan Prime Rate will likely fall in coming months as lenders’ funding costs decline due to lower deposit interest rates and as regulators crack down on extra interest payments to depositors, while the central bank looks to downgrade the role of its medium-term lending facility. The Loan Prime Rate, based on the People’s Bank of China’s medium-term lending facility (MLF) rate and quotes submitted by 20 banks, remained at 3.45% for the one-year maturity and 3.95% for over-five-year tenor on Thursday. The LPR last changed in February when the five-year plus maturity fell 25 basis points, while the one-year rate held steady.
  • Hezbollah’s Leader Says it Will Fight Without ‘Limits’ if Israel Attacks - Hassan Nasrallah, head of the Lebanese militia, also threatened Cyprus if it helped Israel in an all-out war. The Cypriot president responded that his nation was “not involved in any way.” After days of intensified clashes between Hezbollah and Israel, Hassan Nasrallah, the leader of the Lebanese militia, warned on Wednesday that “there will be no place safe from our missiles and our drones” if all-out war breaks out.
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  • ECB’s Knot Sees Strong Case for Quarterly Policy Assessments - There’s a “strong case” for the European Central Bank to decide on interest rates once a quarter when new economic projections are available, according to Governing Council member Klaas Knot. Officials have “little experience” with easing monetary policy gradually and are faced with still-high uncertainty and structural shifts in the global economy that warrant a “data-dependent approach,” Knot said in a speech in Milan on Thursday.
  • MNI (Beijing) - China's Loan Prime Rate will likely fall in coming months as lenders’ funding costs decline due to lower deposit interest rates and as regulators crack down on extra interest payments to depositors, while the central bank looks to downgrade the role of its medium-term lending facility. The Loan Prime Rate, based on the People’s Bank of China’s medium-term lending facility (MLF) rate and quotes submitted by 20 banks, remained at 3.45% for the one-year maturity and 3.95% for over-five-year tenor on Thursday. The LPR last changed in February when the five-year plus maturity fell 25 basis points, while the one-year rate held steady.
  • Hezbollah’s Leader Says it Will Fight Without ‘Limits’ if Israel Attacks - Hassan Nasrallah, head of the Lebanese militia, also threatened Cyprus if it helped Israel in an all-out war. The Cypriot president responded that his nation was “not involved in any way.” After days of intensified clashes between Hezbollah and Israel, Hassan Nasrallah, the leader of the Lebanese militia, warned on Wednesday that “there will be no place safe from our missiles and our drones” if all-out war breaks out.