• DAILY UPDATES
  • MARKETS
    • Forex
    • CFDs
    • Spot Metals
    • Indices
  • ANALYSIS
    • Fundamental Analysis
    • Technical Analysis
  • ARTICLES
No Result
View All Result
FTD Limited
  • DAILY UPDATES
  • MARKETS
    • Forex
    • CFDs
    • Spot Metals
    • Indices
  • ANALYSIS
    • Fundamental Analysis
    • Technical Analysis
  • ARTICLES
No Result
View All Result
FTD Limited
No Result
View All Result

Thursday, July 8, 2021 Headlines

FTD Limited by FTD Limited
July 8, 2021
Reading Time: 5 mins read
A A
Monday, June 14, 2021 Headlines
0
SHARES
34
VIEWS
tweetpostshare
  1. European Central Bank Will Allow Inflation To Exceed Target
  2. “Global tax reform will happen very quickly”
  3. Fed Meeting Minutes

European Central Bank Will Allow Inflation To Exceed Target

ecb

The European Central Bank has completed its 18-month strategy review and is set to announce the results today.

Since taking over from Mario Draghi in late 2019, ECB President Christine Lagarde has made it one of her top goals to conduct the central bank’s first strategic review since 2003. Its findings could mark the beginning of the most significant reform of the tremendously powerful but still relatively young institution that dictates monetary policy for the eurozone’s 19 countries.

While markets are focusing on the European Central Bank’s (ECB) strategy assessment results, the ECB is preparing to allow inflation to exceed its 2 % target, according to information obtained by Bloomberg.

European Central Bank (ECB) officials agreed to update the target of keeping inflation “below but close to 2%,” which has created the impression it worried more about price growth above the target than below it.

The decision was made at a special meeting held to complete the ECB’s strategy review, which ended on Wednesday, Bloomberg reported.

This decision, which is part of the most significant strategic change in the ECB monetary policy in the last 20 years, indicates that the central bank has changed tactics to fight against sub-target inflation for years.

The ECB will announce the review results at 1100 GMT, followed by a Lagarde news conference at 1230 GMT.

“Global tax reform will happen very quickly”

merkel scholz

Speaking before the G20 summit, which will occur at the weekend in Venice and whose main agenda is global tax reform, German Finance Minister Olaf Scholz said that the reform will “take place very quickly” and that the implementation is aimed to start in 2023.

“Everything will happen very quickly now,” Scholz, who is running as Social Democrat chancellor candidate in Germany’s elections in September, told Reuters in an interview.

“The goal is very ambitious: we want to have everything ready already so that it becomes an international practice in 2023,” he added, noting that the reform will “create billions of dollars in additional revenue” for both Europe and Germany. Stating that the most crucial factor is to bring an end to the tax avoidance practices that have been increasing for the last 20-30 years, Scholz said, “We will put an end to this. The race entered with the tax cut will now come to an end.”

Nine countries, including EU countries with low corporate taxes such as Ireland, Estonia, and Hungary, did not sign the global tax reform proposal, including the minimum corporate tax-supported by 130 countries in the OECD, and envisages taxing large companies where they operate. Apart from these three countries, the countries that objected are as follows: Peru, Barbados, Saint Vincent, and the Grenadines, Sri Lanka, Nigeria, and Kenya.

On the other hand, it is stated that Janet Yellen, the Treasury Secretary of the US government, who brought the subject to the G20, should convince the other members of the G20 at the meeting in Venice that “there will be no problems in the US Congress and the reform will be approved without question.”

In the US, Republicans and Democrats continue to debate over President Joe Biden’s proposed minimum corporate tax of 15 % (initially 21 %, but lowered to 15% to increase its appeal).

Fed Meeting Minutes

Fed statement after June FOMC meeting

The minutes of the Fed’s latest Open Federal Market Committee (FOMC) meeting has been released.

In the minutes of the last Open Federal Market Committee (FOMC) meeting of the US Federal Reserve (Fed), held on June 15-16, it was seen that Fed officials have not yet clarified what the “significant improvement” in economic conditions will trigger the tightening of monetary conditions again.

“The committee’s standard of ‘substantial further progress’ was generally seen as not having yet been met, though participants expected progress to continue,” according to minutes from the June 15-16 Federal Open Market Committee meeting published Wednesday. “Various participants mentioned that they expected the conditions for beginning to reduce the pace of asset purchases to be met somewhat earlier than they had anticipated at previous meetings.”

There was little concern about inflationary pressures, the minutes noted, with some members stressing that the economy was still far from the targets. It was stated that the Fed should be ready to act if risks to inflation materialize.

Several participants emphasized “that uncertainty around the economic outlook was elevated and that it was too early to draw firm conclusions about the paths of the labor market and inflation,” the minutes noted.

Chair Jerome Powell may shed more light on the outlook next week when he appears before the Senate Banking Committee to deliver the Semi-Annual Monetary Policy Report to Congress. The July 15 hearing is scheduled to start at 9:30 a.m. in Washington.

Learn more about us

Tags: ECBFEDFOMCG20inflationtax
TweetShareShareSend
Previous Post

GBPUSD is at Near the Key Support Amid Covid Concerns

Next Post

Friday, July 9, 2021 Headlines

Related Posts

NZDUSD is trending after the breaking of the wedge formation.
ANALYSIS

NZDUSD Moving in Uptrend Ahead of Rate Decision 

Gold awaits Fed minutes
DAILY UPDATES

Gold Awaits Fed Minutes

Tensions rise again in Taiwan
DAILY UPDATES

Tensions Rise Again in Taiwan

COT Weekly Non-Commercial Net Positions 
CFDS

COT Weekly Non-Commercial Net Positions 

ECB
DAILY UPDATES

Recession Expectations in the Eurozone 

Surprise Interest Rate Cut From China
DAILY UPDATES

Surprise Interest Rate Cut From China

Next Post
Monday, June 14, 2021 Headlines

Friday, July 9, 2021 Headlines

You might also like

Psychology of trading plays a vital role in one's trading decisions

Trading Psychology

Differences between MT4 and Mt5

MT4 and MT5’s Differences – How to See the Total Lot Sizes in MT5?

Regulated and Licensed Forex Brokerage Company

Regulated Entities

FTD Limited's White Label Program gives you a chance to have your own brand within financial markets.

White Label Solutions

FTD Limited offers Introducing Brokers Program

Introducing Brokers

Algorithmic trading in forex, cfds and indices

Basics of Algorithmic Trading: Concepts and Strategies

Recent Posts

  • NZDUSD Moving in Uptrend Ahead of Rate Decision 
  • Gold Awaits Fed Minutes
  • Tensions Rise Again in Taiwan
  • COT Weekly Non-Commercial Net Positions 
  • Recession Expectations in the Eurozone 
FTD Limited

The content of the site is presented for informational purposes only not to give any investment advice which mainly focuses on financial instruments such as Forex, Spot Metals, CFDs, and Indices.

MENU

  • DAILY UPDATES
  • MARKETS
  • ANALYSIS
  • ARTICLES

Latest Articles

  • NZDUSD Moving in Uptrend Ahead of Rate Decision 
  • Gold Awaits Fed Minutes
  • Tensions Rise Again in Taiwan

Subscribe to our newsletter and get notified about the next update.

    © 2021 FTD Limited

    FTD Articles is a website prepared by FTD Limited's research team. FTD Limited is an online brokerage company offering products of Forex, Spot Metals and CFDs.

    The ideas and the information shown here have no responsibility of any of the trading decisions made by the investors or the visitors of this site. Therefore, under no circumstances will FTD Limited nor FTD Articles be held responsible or liable in any way for any claims, damages, losses, costs or liabilities resulting or arising directly or indirectly from the use of website content. We recommend that you seek advice if you have not involved with trading before in order to prevent potential risks that may arise.

    No Result
    View All Result
    • DAILY UPDATES
    • MARKETS
      • Forex
      • CFDs
      • Spot Metals
      • Indices
    • ANALYSIS
      • Fundamental Analysis
      • Technical Analysis
    • ARTICLES

    © 2021 FTD Limited

    FTD Articles is a website prepared by FTD Limited's research team. FTD Limited is an online brokerage company offering products of Forex, Spot Metals and CFDs.

    The ideas and the information shown here have no responsibility of any of the trading decisions made by the investors or the visitors of this site. Therefore, under no circumstances will FTD Limited nor FTD Articles be held responsible or liable in any way for any claims, damages, losses, costs or liabilities resulting or arising directly or indirectly from the use of website content. We recommend that you seek advice if you have not involved with trading before in order to prevent potential risks that may arise.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.