The ECB changed the parameters of its bond purchasing program, removing the deposit limit floor. Under the new rules governing asset purchases the ECB will be able to purchase government bonds which are yielding less than its deposit rate. That would enable the ECB to begin buying ultra-safe government bonds, such as German short-term debt. Source Investing.com
A French warship passed through the strategic Taiwan Strait this month, U.S. officials told Reuters, a rare voyage by a vessel of a European country that is likely to be welcomed by Washington but increase tensions with Beijing. Source: Reuters
- South Korea’s economy unexpectedly shrank in the first quarter, marking its worst performance since the global financial crisis;
- The contraction reinforced financial market views that the central bank is likely to make a U-turn on policy, shifting to an easing stance and possibly cutting interest rates.
- Italy’s government has written to the European Union asking it to prepare a plan of action to address the risk of a new wave of migrants escaping from the armed conflict in Libya;
- Foreign Minister Enzo Moavero spoke on Wednesday at a joint news conference in Rome after meeting with the United Nations envoy to Libya, Ghassan Salame.
