BOE leaves bank rate unchanged at 4.25%, as expectedSNB brings back zero rates in June monetary policy decision, as expectedSNB chairman Schlegel: We are now on the verge of negative interest rate territorySNB chairman Schlegel: We don't take decision on negative interest rates lightlyEU weighs UK-style trade deal with USEU officials reportedly increasingly resigned to 10% baseline tariffs in any deal with USChina says granted rare earth export licenses to some firms but light on detailsECB's Nagel: We're on the right track when it comes to monetary policyECB's de Guindos: Price stability not enough to achieve growthECB's Villeroy: Return to normal monetary policy is a very positive stepMore from ECB's Villeroy: Tariffs to have limited effect on Euro Area inflationECB's Rehn: Eurozone risks stagflation shock if Mideast crisis extendsReminder: It is a US holiday today
Markets:
CHF leads, NZD lags on the dayEuropean equities lowerGold up 0.1% to $3,371.05WTI crude up 2.0% to $74.53Bitcoin down 0.1% to $104,768The SNB cut its key policy rate by 25 bps to 0% and reintroduced tiered remuneration on its sight deposits while the BOE left its bank rate unchanged at 4.25%, reaffirming two-sided risks to inflation.
The market moves in relation to all of that were rather minimal. USD/CHF is down slightly by 0.2% to 0.8175 but it's not indicative of much as Middle East tensions are also still holding high. Meanwhile, GBP/USD is up 0.1% to 1.3433 and that is not much changed at all from the BOE decision.
In other markets, European indices are down as we await further developments in the Middle East as to whether or not the US will intervene in the Iran-Israel conflict. Oil prices are also marked higher with WTI crude up 2% to $74.53 on the day.
With little else on the agenda for the remainder of the day, headline risks pertaining to the tensions between Iran and Israel are the main thing to watch.
This article was written by Justin Low at www.forexlive.com. Read More Details
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