Funding & Business
India’s First-Quarter Current Account Gap Narrows on Services
India’s current account gap narrowed in the fiscal first quarter, helped by an increase in service sector exports and larger than anticipated remittances.
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Euro-Area inflation is expected to hold steady at 2%, in line with the ECB’s target. Josie Anderson, Nomura European Economist, says with growth expected to pick up over the coming year, the bar for ECB rate cuts is high. She joins Bloomberg’s Lizzy Burden on “Daybreak Europe.” (Source: Bloomberg)
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Copper on the London Metal Exchange was trading near a five-week high as industrial commodities received support from US rate-cut expectations.
The metal edged up 0.1% to trade at $9,890 a ton by 2:32 p.m. Shanghai time. Aluminum, zinc and nickel advanced. Metals are benefiting from growing bets that the Federal Reserve will make another cut to interest rates this month. Key data is due Friday, when a US jobs report could influence the central bank’s monetary easing path.
The European Central Bank should maintain borrowing costs at current levels with inflation risks tilted to the upside, Executive Board member Isabel Schnabel told Reuters.
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