The ECB is looking for ways to lend out more of its huge pile of government debt to avert a freeze in the 5.5 trillion-euro short-term funding market. The ECB wants to make it easier for banks to borrow the bonds that it has bought. Source: Reuters
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U.S. gasoline demand fell 2.4 percent in February from a year earlier, the second straight monthly decline, according to data released on Friday by the U.S. Energy Information Administration that suggested the market may have trouble repeating last year’s record volumes. Gasoline demand fell 218,000 barrels per day to 8.988 million bpd in February, according to the EIA’s petroleum supply monthly report. Source Reuters
Turkey and Russia have reached an agreement in principle on the delivery of Russian-made S-400 long-range surface-to-air missile systems to the Turkish side and are negotiating the price and joint production issues, Turkey’s Foreign Minister Mevlut Cavusoglu said on Friday. Source Tass
The U.K. economy posted its worst performance in a year as the dominant services industry felt the impact of an intensifying squeeze on living standards. Source Bloomberg