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Euro slides and May faces bank bosses to discuss their role after Brexit

By June 15, 2018September 27th, 2022No Comments

The ECB announced that the huge quantitative easing programme will end in December, however, interest rates would remain on hold until next summer at least.

Following this, the Euro once again headed for its lowest weekly loss, plummeting down by around 1.9% yesterday and is currently standing at $1.1565 against the Dollar.

On the Brexit front, Theresa May will be joining the bosses of some of Europe’s biggest banks for dinner and trying to convince them of the merits of staying in the UK after Brexit.

The dinner will be organised by John McFarlane, Barclays’ chairman, and held near the Houses of Parliament.

Also attending will be members of the European Financial Services Round Table, some of which include the Deutsche Bank, Societe Generale and Aviva.

“We are expecting her to make a statement about why we should stay here,” one executive who will be attending told Reuters.

“We need clarity, they are not thinking enough about the sector and we need to change that.”

Meanwhile, the Bank of Japan (BOJ) reported that it will keep its key lending rate on hold, staying with a transient interest rate of -0.1%.

A move which was not expected by many analysts, however, it came about as various other big banks, for example, the US Federal Reserve, began to slowly but surely amend their post-crisis era monetary policies.