KBC Market Research Desk
KBC Bank
European equity markets were boosted by dovish comments of ECB’s Draghi. Most indices trade 1.5% to 2% higher. US stocks profit as well with the S&P 500 at new all‐time record highs.
Mario Draghi told the Frankfurt European Banking Congress that inflation expectations were declining to levels that were seen as excessively low, suggesting the European Central Bank would step in with further easing measures.
In response to both a slowing domestic and global economy, the People's Bank of China, the country's central bank, has cut benchmark interest rates in the world's second‐largest economy for the first time in two years.
Britain's public sector finances improved in October, giving the Chancellor of the Exchequer George Osborne more wiggle room ahead of his Autumn Statement on December 3 on the government's budget.
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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