Japan Signals Preference for Low Interest Rates as BOJ Policy Debate Intensifies 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
RBA Minutes Signal Australia Central Bank Remains Ready to Raise Interest Rates if Inflation Persists 
BOJ Signals More Rate Hikes as Inflation Risks Rise Amid Energy Price Pressures 
New Zealand Unemployment and Inflation Debate Intensifies Ahead of 2026 Election 
Central Banks Eye Gold, Reduce Dollar Exposure as AI Adoption Accelerates: OMFIF Survey 
China Keeps Loan Prime Rates Unchanged for 13th Straight Month as Policymakers Prioritize Credit Demand Recovery 
South Korea Signals Possible Interest Rate Hike as Inflation Remains Elevated 
It seems we were conservative in our estimates, while European Central Bank wasn't in their actions.
Actions from ECB
- Main refinance rates were cut by 0.05% to zero, so it's basically free money for banks and institutions.
- Marginal lending rate reduced by 5 basis points to 0.25%.
- Deposit rates reduced by 10 basis points to -0.4%.
- Purchase program size increased by €20 billion/month to €80 billion per month.
- Investment grade nonbank corporate bonds added to PSPP program.
- Launched four new LTROs.
Market is reacting as expected.
Bond yields are down across Europe. German DAX is up 2.6%, European blue chip index, EuroStxx50 is up 3.5%.
Euro is down -1.3% against Dollar, trading at 1.084.
