Federal Reserve Faces Subpoena Delay Amid Investigation Into Chair Jerome Powell 
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RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal 
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ECB’s Cipollone Backs Digital Euro as Europe Pushes for Payment System Independence 
Fed Governor Lisa Cook Warns Inflation Risks Remain as Rates Stay Steady 
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.
