Danske Bank

Today the ECB decided to cut the policy rate by 25bp, so the deposit rate now yields 2.50%. The most important part of the decision was its assessment of the restrictiveness of its monetary policy stance. The ECB now sees […]

The ECB meeting next week is expected to end with yet another 25bp rate cut, bringing the policy rate to 2.5%, 150bp lower than the peak last year. While the cut decision is relatively straightforward, divergences in the ECB GC

Signs of weaker economic growth in the US have hit a nerve in markets, and the constant political uncertainty is certainly not providing any help. US equities fell and energy prices declined with Brent now trading around USD73/bbl. – the lowest

Geopolitics dominated the news flow again this week but overall had limited market impact. The US held peace talks with Russia in Saudia Arabia leaving EU and Ukraine out of the talks. And during the week the relationship between US President

The tradition of central banks hosting meetings just before Christmas continued this year with policy decisions in the US, Japan, UK, Norway, and Sweden. The largest present came from the US Federal Reserve in the shape of a significant hawkish surprise.

At today’s monetary policy meeting the BoE kept the Bank Rate unchanged at 4.75%, which was widely expected. The BoE delivered a dovish vote split but continues to emphasise a gradual approach to reducing the restrictiveness of monetary policy. We

We expect the Bank of England (BoE) to keep the Bank Rate unchanged at 4.75% on Thursday 19 December in line with consensus and market pricing. Data has broadly been in line with the BoE’s expectations, warranting a continued signalling

As economic data continues to confirm that the inflation problem is more or less over, there is no longer a need for central banks to maintain restrictive levels of interest rates. Hence, this has been a week of rate cuts,

We expect the Fed to cut the policy rate target by 25bp in the December meeting. The Fed could also cut the ON RRP facility rate by an additional 5bp, but we do not expect this to have a significant

The ECB decided to cut its three policy rates by 25bp, in line with market expectations. The most important decision taken today, though, was to remove the pledge to keep monetary policy restrictive. The ECB now simply guides that it