Daily Global Foreign Exchange Market News Express (April 9th)
2024-04-09 07:35:52
1 The Bank of Israel has maintained its benchmark interest rate at 4.5%, which is in line with market expectations2 Market news: The Swedish central bank will adjust the regulatory framework for the Swedish krone in the third quarter, seeking to make the Swedish Interbank Offered Rate (SWESTR) more informative3 Bank of Japan Governor Kazuo Ueda: We will closely monitor foreign exchange and its impact on inflation. The level of foreign exchange is determined by various factors, and we hope that the foreign exchange market will maintain a stable trend. Monetary policy is not aimed at controlling foreign exchange rates. If foreign exchange fluctuations have an undeniable impact on the economy and prices, we will certainly adopt monetary policy responses4 Former St. Louis Fed Chairman Brad: The Fed's "basic situation" is to cut interest rates three times, and the first rate cut will be supported by data. A soft landing for the US economy is in sight5 According to a Reuters survey, all 39 analysts surveyed expect the Bank of Korea to maintain interest rates at 3.50% on April 12th. The Bank of Korea will maintain interest rates unchanged until the second quarter of 2024, and will lower rates to 3.25% in the third quarter (consistent with the February survey)6 Citigroup now expects the European Central Bank to cut interest rates four times by 25 basis points before the end of the year, compared to the previous estimate of five times
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