Fed holds $1.75 trillion of MBS from quantative-easing program. Yet because the Fed is now the biggest source of demand for U.S. government-backed mortgage debt and owns a third of the market, any move is likely to boost costs for home buyers. Source: Bloomberg
The U.S. fiscal deficit topped $1 trillion in 2019, the first time it has passed that level in a calendar year since 2012, according to Treasury Department figures released Monday 13 January. Source CNBC
The closure of oil fields and production facilities threatens the country’s finances, warns Libya’s central bank.The closure of Libya’s major oil fields and production facilities has resulted in losses of more than $255 million in the six-day period ending January 23, the country’s national oil company said on Saturday. Source TRT
- In its first rate decision of the year, the central bank’s Governing Council voted unanimously to keep the main deposit rate at a historic low of -0.5%, in line with market expectations.
- The ECB’s strategic review will assess its formulation of price stability, monetary policy toolkit, economic and monetary analyses and communication practices.
