Steel will be hit with a 25 per cent levy and 10 per cent for aluminium; The Trump administration has sparked a trade war with the European Union, Canada and Mexico after it announced it will impose large tariffs on steel and aluminium imports
Bank of Canada maintained its target for the overnight rate at 1¼ per cent. The Bank Rate is correspondingly 1½ per cent and the deposit rate is 1 per cent.
The European Central Bank has a decade of crisis-fighting experience to draw on to confront market turmoil in Italy, the euro zone’s third-biggest economy.
Europe’s lenders are bracing for regime change at the region’s central bank, which will replace three of its top bank supervisors at the start of next year.
The euro gave up its early gains and turned negative on Monday after Italy’s president set the country on a path to fresh elections, raising concerns that such a route may deliver an even stronger mandate for the country’s anti-establishment parties.
U.S. oil futures sank to six-week lows on Monday on expectations that major producers may raise output, while Asian stocks and U.S. share futures gained on signs the United States and North Korea were still working towards holding a summit.
U.S. President Donald Trump said on Sunday a U.S. team had arrived in North Korea to prepare for a proposed summit between him and North Korean leader Kim Jong Un, which Trump pulled out of last week before reconsidering.
Donald Trump has cancelled his planned summit with the North Korean leader, Kim Jong-un, blaming his decision on a threatening statement from the Pyongyang regime, and warning that the US military is “ready if necessary”.
Improved economic conditions support financial stability environment; Risk-taking in most financial markets gained momentum; Bank profitability improved, but structural vulnerabilities remain
the inflation rate to rise slightly above 2 percent for a “temporary period,” while the economy continues to expand