DAX: Still overbought and such tiny little candles. Chart/Levels from Analyst, Nicole Elliott – Investors Chronicle.

 

Mexican central bank cuts and cuts again Fighting a stagnant economy

The Financial Times reported from Mexico City yesterday that Banxico, the central bank, cut its key lending rate for at the third consecutive rate-setting meeting; trimmed another 25 basis points so that the rate now stands at 7.5 per cent. They also downgraded their view on economic growth for this and next year, saying ‘’the third quarter of 2019 shows that stagnant economic activity has maintained as observed for several quarters’’. More unusually they noted that the country should ‘’improve the rule of law, abate corruption and combat insecurity’’.

The European Investment Bank said yesterday that it will no longer fund any projects to develop fossil fuels from late 2021 (one year later than originally planned); this includes traditional natural gas ones. ‘’This is an important first step – this is not the last step’’ said vice president of the bank Andrew McDowell.

Financial Markets and Political Commentary

 

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