European markets brace for ECB announcement

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Stocks slide while Germany’s benchmarks bond yield hits an eight-year high as investors expect the ECB’s go-ahead for higher interest rates

An employee passes share price information displayed on an electronic ticker board inside the London Stock Exchange Group’s offices in London, the UK. Picture: BLOOMBERG VIA GETTY IMAGES/LUKE MACGREGOR

Bond dealers marked the moment by pushing Germany’s 10-year government bond yield — the main proxy for European borrowing rates — to its highest level in nearly eight years. Stocks slipped nearly 1%, while the euro barely budged. “So it is about: do they clear that bar, and how does market react ... I don’t think they will want to take anything off the table.”

MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.65%, with Australian shares down 1.2% and Seoul’s Kospi 0.5% lower. Hong Kong’s Hang Seng turned around from small gains to fall 0.75% and Chinese A-shares fell 1%. The Japanese currency has been weighed down by a widening policy divergence, with the Bank of Japan remaining one of the few global central banks not signalling higher interest rates at present.

 

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Yen extends slide, euro steady as all eyes on ECB meeting - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.The yen dropped to a 20-year low on the dollar on Thursday, though most major currency pairs traded cautiously ahead of a highly-anticipated meeting by the European Central Bank, which should offer insights into its monetary policy tightening plans. I'm desperate for any employment. I'm willing to be a slave boy or a servant too. Just for my kids🙏. My children are suffering because I struggle to put food on the table for them😭. Last night they slept hungry and that broke me as a father💔.
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