Daily Briefing: - EU to grant second delay to Brexit at an emergency summit - IMF's latest report says global economy cooling, coordinated stimulus may be needed - ECB to keep policy on hold in face of gloomy outlook
World markets have stepped back at last after one of the longest winning streaks in over a year. The International Monetary Fund’s sharp downgrade of this year’s global growth forecast on Tuesday and Washington ratcheting up its tariff row with Europe even before resolving its trade war with China were shots across the bow of buoyant equities.
The ECB is widely expected to underline its recent dovish turn given the continued weakness of Europe’s industrial economy this year and markets will watch closely for details of any plans it may tier its sub-zero deposit rates to aid banks during a longer period of extraordinarily low interest rates.
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