Free Trial

Summary – March 19

LATAM
  • In Brazil, the BCB will publish its weekly Focus survey this morning, while Mexico Q4 aggregate supply and demand will also cross. Later today, Argentina releases February trade data and Colombia will publish February industrial and retail confidence figures. Elsewhere, US building permits and housing starts data for February will cross.
  • Global News:
    • JAPAN (MNI) – The BoJ board on Tuesday decided to end its negative interest rate and raised the unsecured overnight call loan rate to a range of between zero percent to 0.1% -- the first rate hike since February 2007. The BOJ also scrapped the yield curve control policy and deleted the 1.0% ceiling of the long-term interest rate. However, the bank will maintain its Japanese Government Bond buying programme at about the same volume and will make "nimble responses," increasing its purchases, should long-term interest rates rise.
    • US – Congressional leaders and the White House reached a handshake deal to fund the US government through Sept. 30, according to people familiar with the negotiations, after six months of bitter ideological clashes delayed finishing an annual spending plan. Lawmakers will now race to pass the agreement before a midnight Friday deadline for a partial government shutdown.
    • EU – ECB Vice President Luis de Guindos reiterated that he and his colleagues will have much more information to decide on interest rates when they meet in June. Speaking at an event in Madrid on Tuesday, the former Spanish finance minister didn’t dwell much on the outlook for borrowing costs, while cautioning that things could turn out differently from what investors expect.
    • CHINA / RUSSIA (MNI London) – Reuters claiming that according to its sources, Russian President Vladimir Putin will visit China for talks with President Xi Jinping in May. This would mark Putin's first foreign trip of his latest term in office, and act as a further signal of Putin's intent to develop increasingly close links with China.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.