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There was much curiosity surrounding Christine Lagarde's first press conference following a meeting of the ECB's Governing Council. This was not so much over the tone of monetary policy—which followed the same lines as in Mario Draghi's era—but over how she would act in a fractured field where some did not welcome her.
Overall, Mrs Lagarde’ first post-meeting press conference went as expected, with an outspoken communication style when talking about different issues not strictly related to monetary policy, and an unchanged line on the monetary policy stance.
As we expected, the Fed lefts its benchmark interest rate by unchanged at 1.5-1.75% and made only minor adjustments to the October statement.
Three-parts accommodation, one-part trade détente baked into 2020 outlook, but is it enough to avoid a downturn? Fed's Art of War: Let your plans be dark and impenetrable as night, and when you move, fall like a thunderbolt.
The President of the European Central Bank (ECB) will be remembered for a number of things, and one of them is never having raised interest rates during his term, and in fact having lowered them to today's negative levels.
The most frequently repeated words during meetings and conversations last week in Washington were: low growth, political interference, trade war, downside risk, negative rates, financial instability, green economy, uncertainty, unilateralism and fiscal policy.
In a relatively relaxed press conference- Draghi’s last one as ECB President- , he provided a dovish tone, in line with his entire presidency. He did not give any hints about action to be taken in the short term, trying not to tie the hands of his successor, Mrs Lagarde. We expect the ECB to remain on hold.
Leveraged loans are granted to entities with considerable amounts of debt, that is, according to the European Central Bank (ECB), those with a debt-to-income ratio before interest and tax of more than four.