Daily News | ECB Decisions

In the aftermath of the Brexit referendum, the European Central bank is about to make an important monetary policy announcement. The meeting itself isn’t expected to unveil any new information or implement significant changes, but it’s actually the post-meeting press conference that everyone is waiting for. ECB president Mario Draghi is expected to reassure investors – primarily, he must assure them that the negative consequences of Brexit on the Eurozone can be dealt with. Next, the European Central Bank must be prepared to support shaky Italian banks because right now, Italian banks are more than 360 billion euro in debt. However, as the future of German government debt seems brighter, the euro has somewhat strengthened against the American dollar – 0.2 percent to $1.1030. In combination with the projected positive impressions of the ECB meeting, the euro should remain fairly stable.

On the other side of the world, in Japan, the dollar is still going strong against the yen, marking a six week high after it rose to as much as 107.49 yen. Accordingly, the euro rose 0.1 percent against the yen to 117.90 yen. There has also been talk of a 190 billion dollar stimulus Japan is going to use to strengthen its economy. But the currency whose value has fallen the most is the New Zealand dollar. It dropped down by 0.6 percent to $0.6986, making it a six week low.

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Author: Max Rothstein

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