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ECB extends its QE programme until March 2017 or beyond

The 25-member Governing Council, meeting in Frankfurt on Thursday, reduced the rate by 10 basis points to minus 0.3 percent. That’s in line with the move forecast by economists. Policy makers left the main refinancing rate and the marginal lending rate unchanged. On the following Press Conference, ECB President Mario Draghi  said that the ECB extends the asset purchase programme to run until March 2017 or beyond if necessary and in any case until the Governing Council sees an improvement in inflation.

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RBA kept interest rates unchanged

Australia's central bank kept interest rates steady for a seventh month on Tuesday as data showed exports 
provided a huge lift to the economy last quarter and helped fill a gaping hole left by business investment.
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HSBC believes that ECB will cut rates and extend QE

In a report on the European Central Bank (ECB), the HSBC bank has dissected the bank’s agenda, with an inflation rise one of the biggest priorities. HSBC believe that the markets doubt the willingness of the ECB to tackle the inflation problem, of reaching the desired 2% threshold. Also, the euro area is unresponsive to economic slack, and therefore recovery.
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Markets steady as Thanksgiving marks beginning of festive season

It is a steadier Thursday's trade with Thanksgiving holiday being celebrated in USA, and with many markets not being fully opened till Monday. This is also beginning of festive season, which is sometimes marked by lack volatility, but also sharp unexpected moves. Aussie is still being stable above 0.72 handle despite decline this morning.  Read more...

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