ECB Set to Raise Interest Rates as Energy Shock Fuels Eurozone Inflation Concerns 
BoE Policymaker Alan Taylor Signals No Need for Interest Rate Hike Amid Iran War Inflation Risks 
Fed Chair Kevin Warsh Signals Policy Overhaul as Hawkish Rate Outlook Rattles Markets 
FxWirePro: Daily Commodity Tracker - 21st March, 2022 
BOJ Rate Hike Expected to Boost Yen, Impact USD/JPY and Nikkei 
Indonesia Central Bank to Draft New Regulations After Expanded Economic Growth Mandate 
South Korea Central Bank Holds Interest Rates Steady Amid Inflation Concerns 
It seems we were conservative in our estimates, while European Central Bank wasn't in their actions.
Actions from ECB
- Main refinance rates were cut by 0.05% to zero, so it's basically free money for banks and institutions.
- Marginal lending rate reduced by 5 basis points to 0.25%.
- Deposit rates reduced by 10 basis points to -0.4%.
- Purchase program size increased by €20 billion/month to €80 billion per month.
- Investment grade nonbank corporate bonds added to PSPP program.
- Launched four new LTROs.
Market is reacting as expected.
Bond yields are down across Europe. German DAX is up 2.6%, European blue chip index, EuroStxx50 is up 3.5%.
Euro is down -1.3% against Dollar, trading at 1.084.
