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The week's focus on central banks continues Thursday, with the Bank of England due to announce its June policy decision at noon BST. Economists polled by Reuters are expecting a unanimous vote to hold rates at 0.75%, despite two officials recently mooting the need for higher borrowing costs in the near future.
European Central Bank President Mario Draghi touted another round of stimulus on Tuesday, while Wednesday saw theShares in Asia traded higher Thursday afternoon after the Fed opened the door to cuts, with mainland Chinese indexes all rising more than 2%. Hopes for a trade deal between the U.S. and China have also risen this week as U.S. President Donald Trump and Chinese President Xi Jinping prepare to meet at next week's G-20 summit.
Meanwhile Huawei CEO Ren Zhengfei told CNBC exclusively Wednesday that the banks in the U.S. legal case against the company. Huawei and his daughter, CFO Meng Wanzhou, were charged with bank and wire fraud and conspiracy to commit bank and wire fraud in relation to skirting American sanctions on Iran.
Back in the U.K., Conservative party Members of Parliament are expected to decide the final two candidates to succeed Prime Minister Theresa May, with former Foreign Secretary Boris Johnson the clear favorite.
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Source: WSJ - 🏆 98. / 63 Read more »