KBC Market Research Desk
KBC Bank
European shares trade mixed in an uneventful session today, awaiting next week’s key eco data and central bank meetings. In the US, shares trade little changed, ignoring upbeat jobless claims data.
The IMF approved today a $14‐18 billion standby agreement of Ukraine in return for tough economic sanctions, which will further unlock aid from the European Union, United States and other lenders over two years.
The Norwegian central bank decided today to keep interest rates on hold at 1.5% and signalled they remained on course for a rate hike in the summer of next year. The Norwegian crown rose sharply today as investors had expected the central would hit a softer tone.
British retail sales rose much stronger than expected last month, by 1.7% M/M instead of the expected 0.5% M/M increase. The rebound came however after a plunge by 2.0% M/M in January.
South Africa’s central bank left its benchmark rate unchanged at 5.5%. However, the South African Rand gained after governor Marcus indicated that 3 out of 7 MPC members called for a rate hike.
This non-exhaustive information is based on short-term forecasts for expected developments on the financial markets. KBC Bank cannot guarantee that these forecasts will materialize and cannot be held liable in any way for direct or consequential loss arising from any use of this document or its content. The document is not intended as personalized investment advice and does not constitute a recommendation to buy, sell or hold investments described herein. Although information has been obtained from and is based upon sources KBC believes to be reliable, KBC does not guarantee the accuracy of this information, which may be incomplete or condensed. All opinions and estimates constitute a KBC judgment as of the data of the report and are subject to change without notice.
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