By Chris Becker
It was central bank city last night on risk markets with the Bank of Canada taking a cut to its interest rates for the first time in nearly six years, the upcoming ECB meeting fueling speculation and the Bank of Japan extending its own Abenomics package into the far-flung future. The currency wars are heating up!
There were no major economic releases overnight, save UK unemployment rate which dropped slightly and then the Cancucks slicing 0.25% off their official cash rate from 1% to 0.75% – maybe there’s even more room for the RBA to move?