Janet Mui: weekly economic update 8 March
The outcome of the ECB's meeting, US employment data and Chinese tax cuts
In this week's video briefing Janet Mui discusses the ECB’s latest policy meeting, US employment data and China’s measures to support growth.
The ECB said it would keep rates at current low levels for the remainder of the year, in line with market expectations. It also announced a new programme of long-term loans to European banks.
In the US, employment data was mixed. Net new job creation was a slight disappointment. However, the unemployment rate ticked lower and earnings growth accelerated, suggesting an improved outlook for the US consumer.
The Chinese government announced a package of targeted corporate tax cuts. We think this will help Chinese growth stabilize and recover in the second half of 2019.