The European Central Bank should not change the sequence of its future policy moves, even if that risks pushing up government borrowing costs, but may need a backstop to prevent market fragmentation, board member Isabel Schnabel said on Wednesday. The ECB has long stipulated that an interest rate hike will only come "shortly after" quantitative easing ends, but some academics and policymakers are now entertaining the idea of switching the sequence of the two moves, partly to keep long term borrowing costs down even when short term rates rise. "Maintaining a high volume of asset purchases merely to avoid adjustments in long-term yields in spite of imminent risks to price stability would give way to fiscal and financial dominance," Schnabel said in a speech.
Artificial intelligence-run fund AMOM also loaded up on shares of Netflix, and bet big on a very low-profile medical device specialist.
Pine, peppermint, and winter citrus options will help you get into the festive spirit even as you clean your kitchen.