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- German IFO and CBR rate decision amongst market movers today – Danske Bank
German IFO and CBR rate decision amongst market movers today – Danske Bank
Danske Bank analysts suggest that after a very hectic day yesterday with key central bank meetings and releases, we are looking for a quieter day on the data release front.
“In the euro area, we get the German Ifo print today. We are looking out for whether the latest stabilisation in the current business climate has continued and if the expectation component has fallen further. On the Brexit saga, the EU ambassadors are expected to grant the UK a three-month extension of Article 50, making room for the UK to likely hold parliamentary elections on 12 December if two-thirds of the UK parliament support the Johnson government's motion on Monday. Today Bank of Russia (CBR) will hold its monetary policy meeting. We expect a 50bp cut to the key rate, while Bloomberg and Reuters consensus expect a 25bp cut. This time all major factors support a firm cut and a further 25bp cut in December 2019: the RUB has stabilised on comfortable oil price levels, which has put Russia's headline inflation back to the 4% CBR target.”
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