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Showing posts with the label eurozone economy

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Market Daily Report: Bursa Malaysia Closes Higher On BNM’s OPR Decision, Wall Street Gains

KUALA LUMPUR, Nov 5 (Bernama) -- Bursa Malaysia closed higher, buoyed by Bank Negara Malaysia’s (BNM) decision to maintain the Overnight Policy Rate (OPR) at 2.75 per cent, alongside positive cues from Wall Street. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 19.30 points, or 1.19 per cent, to 1,635.86 from Wednesday’s close of 1,616.56. The benchmark index opened 6.72 points higher at 1,623.28, and fluctuated between an intraday high of 1,642.44 and a low of 1,622.62 during the trading session. However, market breadth was negative, with losers outnumbering gainers 723 to 497, while 466 counters were unchanged, 1,075 untraded and 10 suspended. Turnover rose to 3.74 billion units valued at RM3.61 billion compared with yesterday’s 2.81 billion units valued at RM2.57 billion.
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Weak Eurozone Data Fuels Calls for ECB Rate Cut in October

Recent economic data from the eurozone is intensifying pressure on the European Central Bank (ECB) to implement another rate cut next month. Lower-than-expected inflation in France and Spain , along with signs of a cooling German labor market , have strengthened the case for further monetary easing. Inflation in France dropped to 1.5% in September, while Spanish inflation fell to 1.7% , both below market expectations. These figures, along with other data indicating weaker price growth expectations , suggest that eurozone inflation could fall below the ECB's 2% target soon, despite the central bank's previous hesitancy to ease policy. Adding to concerns, a key eurozone sentiment indicator dropped more than expected on Friday, signaling weaker economic growth and cooling price pressures. Investors have now raised the probability of a rate cut at the ECB’s Oct 17 meeting to 75% , a sharp increase from 25% just a week ago. The ECB, which has already cut rates twice this...
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ECB Expected to Cut Interest Rates as Eurozone Growth Slows, Outlook Uncertain

The European Central Bank (ECB) is poised to cut interest rates again on Thursday, despite inflation risks persisting amid a faltering eurozone economy. Investors will be closely scrutinizing the ECB's statements for any signs of further easing. The ECB lowered its deposit rate to 3.75% in June , and several policymakers have already signaled support for another cut. The debate is expected to center on how swiftly borrowing costs should be reduced in future meetings. ECB President Christine Lagarde is likely to maintain the bank's recent stance that decisions are made on a meeting-by-meeting basis, driven by incoming data. However, she may also indicate that all meetings remain “live,” leaving the door open for a potential cut in October, while some conservative policymakers, or "hawks," argue for a slower pace of easing due to inflation across the 20-country eurozone remaining above the ECB's 2% target. "All eyes will be on any messages regarding the futur...
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