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GLOBAL & REGIONAL DAILY (Thursday, 19 September 2019)

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GLOBAL & REGIONAL DAILY

HIGHLIGHTS

September 19, 2019

Global Markets

As was widely expected, yesterday the Fed cut its target range for the federal funds rate by 25bps to 1.75-2.00%. The lack of clear hints for further Fed rate easing favored the USD, while the 2/10-yr UST yield curve flattened.

Greece

The Asset Protection Scheme (APS) for the reduction of NPLs – recently named “Hercules project” by the Greek government – has been submitted to DG Comp for approval. According to the Greek government the scheme will not put extra burden to the Greek taxpayer whatsoever.

CESEE

Cyprus: The cabinet approved the budget framework of 2020.

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