Ukraine's central bank raised its refinancing rate to 30% from 19.5%

European equity markets couldn’t hang on to positive risk sentiment this morning. After reaching new intraday record highs, some profit taking occurred amid an empty eco calendar. Losses are contained to ‐0.35% though. US stocks open modestly lower too. They trade up to ‐0.5% lower.

Dallas Fed Fisher said “it would be wise to move gradually and earlier rather than to wait to see the whites of the eyes of full employment and then have to raise rates steeply”. Markets ignored the comments as Fisher will leave office on March 19 and will not attend the next FOMC meeting (March 17‐18).

The world’s leading 98 internationally active banks have fully met new minimum capital requirements under the Basel III regulation, almost five years ahead of time, the Basel Committee said today, adding that European banks in particular have caught up.

Ukraine’s central bank raised its refinancing rate to 30% from 19.5%, the central bank announced today as part of the measures aimed at stabilizing the country’s financial system. Yesterday, the country passed several laws including amendments to the budget, a condition for a lending programme from the IMF, on which it is expected to decide nxt week. The hryvnia regained some ground today.

Canada's economy grew faster than expected in the fourth quarter, expanding at a 2.4% annualised pace, compared to 2% expected. Third quarter growth was upwardly revised from 2.8% annualised to 3.2%. On currency markets, the Canadian dollar profited somewhat with CAD/USD back above 0.80.