RR Phantom
Location : Wasted Space Job/hobbies : Cayman Islands Actuary
| Subject: More statist market manipulation: ECB and BoE moves boost world shares Fri Jul 05, 2013 1:45 am | |
| Clear signals of looser policy ahead from central banks in the UK and Europe on Thursday sent the euro to a five-week low, lifted bond prices and gave a boost to sharemarkets.
The statements by the European Central Bank and the Bank of England were aimed at supporting their economies in the face of a withdrawal by the US Federal Reserve from its money-printing programme.
"Both the ECB and the Bank of England are trying to offset the changes the Fed is seen making," said Ned Rumpeltin, head of G10 FX strategy at Standard Chartered.
The diverging policy outlook on either side of the Atlantic sent the euro down 1 per cent to $US1.2883, German 10-year bond yields to a two-week low and gave European shares their best day in 11 months.
Read more: http://www.smh.com.au/business/markets/ecb-and-boe-moves-boost-world-shares-20130705-2pffp.html#ixzz2Y9BSg2BK
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