Draghi ignores the freefall, for now

The latest IFO readings have shown a sharp downturn – ‘in freefall’ has been one description – yet t the ECB didn’t budge today. Mario Draghi flapped future action, but will it be soon enough. Bond yields have moved up across Europe on the news. Over in America, were a rate cut is imminent, the latest durable goods orders showed a sharp turnaround. But, as NAB’s David de Garis discusses with Phil Dobbie, it’s the US Q2 GDP number today that really counts. And Boris blusters into parliament, promising his no deal Brexit, whilst EU negotiate Mr Barnier agrees it could happen.

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