GLOBAL & REGIONAL DAILY (Thursday 31, October 2019)
GLOBAL & REGIONAL DAILY
October 31, 2019
The Fed cut rates by 25bps at this week’s two-day monetary policy meeting which concluded yesterday, taking the target range for the fed funds rate to 1.50-1.75%. Speaking in the post-meeting press conference, Fed Chair Jerome Powell hinted that the Central Bank does not plan to make any more cuts in the near future, unless upcoming developments cause the Fed to materially reassess its outlook.
The Economic Sentiment Indicator (source: European Commission), after reaching nearly a 11.8 year high in Aug-19 (108.4 units, one month after the national elections of Jul-19), it dropped for a 2nd month in a row in Oct-19 (106.7 units).
Bulgaria is expected to receive an invitation to join the ERM-II and the Banking Union by the end of April 2020.
The Serbian Ministry of Finance redeemed earlier this week 3-year bonds.
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