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RBA rate cut shows the way

Chris Scicluna
Emily Nicol
  • Following the ECB's late-night statement on its response to the coronavirus and ahead of a call between G7 finance ministers and central bank governors, the RBA cut its cash rate by 25bps to a record low 0.25%. 

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Central banks attempt to calm concerns

Chris Scicluna
Emily Nicol
  • Announcements from the Fed, BoJ and BoE appeared to temporarily appease financial markets. So despite some dire Chinese PMIs, which plummeted to the lowest on record, Asian equities started the week on the front foot. 

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Market rout continues

Emily Nicol
Chris Scicluna
  • As concerns over the spread of the COVID-19 coronavirus continued to mount, global equities nosedived and major sovereign bonds again rallied hard. And given the likely significant impact to global growth, expectations for coordinated monetary policy action are starting to rise.

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Asian sentiment stabilises as Japan plays catch up

Emily Nicol
Chris Scicluna

While Japanese markets had to play catch up after yesterday's national holiday, sentiment in most Asian markets stabilised today despite a plunge in Korean consumer confidence. With the day ahead light on new top-tier economic data, the coronavirus newsflow will clearly dictate how markets evolve in European and US time.

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Risk evaporates on Italian virus spread

Emily Nicol
Chris Scicluna
  • At the start of the week, risk appetite was in short supply as investors responded to the weekend’s accelerated spread of the COVID-19 coronavirus in South Korea and Italy. Over coming days, ECB policymakers will likely repeat calls for euro area governments to prepare a coordinated fiscal policy response to guard against downside risks.

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