Draghi refuses to call end to ECB crisis measures Central bank extends QE until September 2018 but halves pace


(FT) – The European Central Bank confounded monetary hawks by extending its economic stimulus programme until at least September next year, pushing down the euro as investors digested Mario Draghi’s refusal to call the end to emergency crisis-era measures. Although the ECB announced its stimulative bond purchases will be halved to €30bn a month, the…

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BREAKING NEWS: The upper house of Spain’s parliament on Friday authorized the government of Prime Minister Mariano Rajoy to rule Catalonia directly from Madrid – minutes after the restive region declared independence from Spain.


MADRID (Reuters) – The upper house of Spain’s parliament on Friday authorized the government of Prime Minister Mariano Rajoy to rule Catalonia directly from Madrid, minutes after the restive region declared independence from Spain. Rajoy is now expected to convene his cabinet to adopt the first measures to govern Catalonia. This could include firing the…

Catalonia’s parliament declared independence from Spain on Friday – in defiance of the Madrid government, which at the same time was preparing to impose direct rule over the region.


BARCELONA/MADRID (Reuters) – Catalonia’s parliament declared independence from Spain on Friday in defiance of the Madrid government, which at the same time was preparing to impose direct rule over the region. Although the declaration was in effect a symbolic gesture as it will not be accepted by Spain or the international community, the moves by…

Bitcoin hits record high above $6,000 


  SYDNEY ( Sitnok Global) – Bitcoin reached a record high of more than $6,000 on Friday, pushing its market capitalization to $100 billion, as investors  bet on an asset that has a limited supply. This may be the result of increase of crypto-currencies coming to market. The original virtual currency has gained over 500…

World Geopolitics and Markets Update: 18/10/2017


MADRID (Reuters) – Spain’s central government threatened on Thursday to suspend Catalonia’s autonomy after the region’s leader said it could go ahead with a formal declaration of independence if Madrid continued its “repression”  Catalan President Carles Puigdemont arrives to attend the Catalan European Democratic Party (PDeCAT) extraordinary national council meeting in Barcelona, Spain October 18,…

World Geopolitics Update: 10/11/2017


U.S. flies bombers over Korea as Trump discusses options SEOUL/WASHINGTON (Reuters) – The U.S. military flew two strategic bombers over the Korean peninsula in a show of force late on Tuesday, as President Donald Trump met top defense officials to discuss how to respond to any threat from North Korea. Tensions have soared between the…

U.S. Environmental Protection Agency formally proposed on Tuesday to scrap the agency’s Obama-era carbon cutting plan


WASHINGTON/NEW YORK (Reuters) – The head of the U.S. Environmental Protection Agency formally proposed on Tuesday to scrap the agency’s Obama-era plan to reduce greenhouse gas emissions from power plants, as the Trump administration seeks to slash fossil fuel regulation. EPA Administrator Scott Pruitt issued a notice that the agency intended to repeal and replace…

Minutes of the Monetary Policy Meeting of the Reserve Bank Board – 6 Dec 2016


Sydney – 6 December 2016 Members Present Philip Lowe (Governor and Chair), Guy Debelle (Deputy Governor), John Akehurst, Kathryn Fagg, John Fraser (Secretary to the Treasury), Ian Harper, Allan Moss AO, Heather Ridout AO, Catherine Tanna Others Present Christopher Kent (Assistant Governor, Economic), Chris Ryan (Acting Assistant Governor, Financial Markets), Luci Ellis (Head, Financial Stability Department), Alexandra Heath (Head, Economic Analysis Department) Anthony Dickman (Secretary), Andrea Brischetto (Deputy Secretary) Domestic Economic…

OVERNIGHT MARKET REPORT: 29 Nov. Markets take some profits off the table – as the Trump trade is now priced in.


   U.S. stock benchmarks fall from record highs on speculation Trump’s election and expectations his spending will stoke growth had gone too far.   Treasuries rose as gold pared its monthly drop.   Italian banks slumped with Prime Minister Matteo Renzi facing a key referendum that may see voters reject constitutional reform, prompting his resignation.  …

AUSTRALIA: Super reform: the latest legislative changes


Published by sitnokglobal.com Legislation has been introduced into parliament to enact the super reforms announced in the 2016/17 Federal Budget. Since the draft legislation was initially tabled, changes have been made, the most important of which are summarised below. $1.6 million transfer balance cap Key changes Comment Change in transitional arrangements for members with pension…

INTL UPDATE: Asia 30-3-2016


  ASIAN MARKET UPDATE ……. Wednesday 30-3-2016  Asia Pacific region stock markets finished mostly higher Wednesday, on the back of U.S. Federal Reserve Yellens signal for a slow pace on raising interest rates. “[Ms. Yellen] and the Fed have finally realized that the only way they can safely start to normalize interest-rate policy in the U.S. is if they…