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Brexit Headlines Again; ECB And Its Inflation Target; Markets Rebound A Bit

Brexit Headlines Again; ECB And Its Inflation Target; Markets Rebound A bit

During the early hours of the European morning yesterday, there was news regarding Brexit, and specifically the Irish backstop again. Yesterday, we saw the euro taking a hit against its major counterparts, due to a report from Bloomberg that the staff at ECB started considering a possible change in the Bank’s current inflation target of “below, but close to +2.0%”. During the Asian morning today, we saw the Asian stock indices rebounding strongly and making their way up again, after e few days of selling.

 

Brexit Saga Continues

During the early hours of the European morning yesterday, there was news regarding Brexit, and specifically the Irish backstop again. The chief negotiator from the EU side, Michel Barnier, came out with a statement that they are ready to work and discuss the border issue. He said that they are open for negotiations, in order to smoothen the transition period of UK leaving the EU. In addition to that, he also stated that there would still be a lot of negotiations to go through, as each side has their own demands. A few hours later, the Irish prime minister, Leo Varadkar, said that he would support the talks over the Irish backstop, but only if the proposals are satisfying all the sides. If not, then the backstop will still be on the table. Nevertheless, it seems that there is some positive news in relation to the Brexit talks and the leaders are showing willingness to discuss everything again. The UK lawmakers came out with the news that they have approved certain proposals, which could make...

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Friday, 19 Jul, 2019 / 8:14

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Source : https://www.jfdbank.com/en/research/brexit-headlines-again-ecb-and-its-inflation-target-markets-rebound-a-bit-20190719

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