Traders Brush Off The Brexit Deadline Extension

Edmond de Rothschild
By April 15, 2019 11:02

Traders Brush Off The Brexit Deadline Extension

Market flash

The headline event in Europe was Brexit being postponed to October 31 at the latest. The agreement will prolong uncertainty but at least there is no short-term risk of a no-deal exit. The April 10 ECB meeting left interest rates unchanged. Mario Draghi’s tone was even more cautions than when the bank’s economic scenario changed direction. Manufacturing continued to struggle because of worsening global demand while services gained from resilient domestic demand. Growth in the eurozone in 2019 is now estimated at 1.1%. September’s TLTRO conditions might be even more favourable than expected in an attempt to offset the impact of negative interest rates on banks and thus their capacity to finance the economy. 

Edmond de Rothschild
By April 15, 2019 11:02

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