WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS: The JPY was among the main outperformers in European trade on Thursday following the BoJ’s decision to keep its monetary policy unchanged, disappointing those who were poised for additional easing measures in view of lingering deflation jitters. The Fed also held interest rates steady, as widely expected. Though its economic assessment was more dovish compared to the previous statement, the phrase that “global economic and financial developments continue to pose risks” was delated. All in all, the Fed left the door open for a rate hike in the coming months but the timing of the next move remains uncertain.
GREECE: The ECB/EC/IMF/ESM mission heads are reportedly expected to depart from Athens today while official discussions on the contingent package will continue between the Greek authorities and the Athens-based technical teams representing official creditors. On the data front, the most recent Bank of Greece data revealed that euro-denominated deposits & repos of domestic households and non-financial corporations in Greek MFIs excluding the Bank of Greece (BoG) dropped in March for the third consecutive month.
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