PREVIOUS TRADING DAY EVENTS 23 March 2023

Announcements  

The Swiss National Bank tightens monetary policy further and raises the SNB policy rate to 1.5 in line with expectations. It announced that there might be additional future rises if necessary in order to ensure price stability over the medium term.

Source httpswww.snb.ch

The MPC increased the bank rate by 0.25 percentage points, to 4.25 as expected. CPI inflation is still expected to fall significantly in 2023 Q2, to a lower rate than anticipated in the February report. Monetary policy will remain the same, ensuring that inflation will return to the 2 target sustainably in the medium term and longerterm inflation expectations are fixed at the 2 target level.

Source httpswww.bankofengland.co.uk

The advance figure for seasonally adjusted initial claims was 191,000, a decrease of 1,000 from the previous weeks unrevised level of 192,000, less than the expected 198K figure. Thus, the number of Americans filing new claims for unemployment benefits was relatively low and shows no signs yet that the recent financialbanking crisis with the failure of two regional banks was having an impact on the economy.

Source httpswww.dol.gov

The Treasury is ready to take additional actions if warranted to stabilise banks. The federal emergency refunds to depositors at Silicon Valley Bank and Signature Bank could be deployed again if necessary according to Treasury Secretary Janet Yellen.

Source httpswww.cnbc.com…