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Asian stock markets rally ahead of G7 meeting – business live

Discussion in 'Market News' started by Lily, May 20, 2016.

  1. Lily

    Lily Forum Member

    Aug 29, 2015
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    G7 finance ministers and central bankers to discuss weak global growth and Brexit risks

    7.53am BST

    A European Central Bank policymaker has poured cold water on hopes that the central bank could cut interest rates future. Benoit Coeuré, member of the ECB’s executive board, said there are no plans to reduce the deposit rate – which is in negative territory, at -0.4% – for the time being.

    The negative deposit rate, effectively a charge on banks for hoarding cash, has been criticised by banks and investors for squeezing their profits and distorting financial markets.

    It is in principle possible to cut this rate further, but there is currently no plan to do so.

    7.33am BST

    Good morning, and welcome to our rolling coverage of the world economy, the financial market, the eurozone and business.

    Signs of hawkishness among US Federal Reserve members sent global markets tumbling yesterday, marking another disappointing week for stocks. US markets finished lower but recovered from the lows hit earlier in the day.

    Continue reading...

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