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Ms Schnabel noted that since the Governing Council’s previous monetary policy meeting on 6-7 March 2024 financial markets had started to price in some divergence between the monetary policy paths expected in the euro area and in the United States. This was reflected in a widening interest rate differential. In the United States, a series of solid economic data releases had signalled the US economy’s resilience to the current levels of interest rates. This had led financial markets to expect the timing of a first interest rate cut to be later and the overall extent of monetary policy easing to be less than previously anticipated. post: ECB ACCOUNTS: THE WIDELY AGREED PRICE DATA IS IN LINE WITH THE MID-TERM PATH. post: ECB ACCOUNTS: UNDERLYING INFLATION PROGRESS WAS GENERALLY SEEN. post: ECB ACCOUNTS: IT WAS SEEN AS PLAUSIBLE THAT THE GOVERNING COUNCIL WOULD BE IN A POSITION TO START EASING MONETARY POLICY RESTRICTIONS AT THE JUNE MEETING.
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The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) widened on Thursday: • WCS for June delivery in Hardisty, Alberta, closed at $12.20 a barrel below WTI, according to brokerage CalRock, after closing at $11.70 a barrel below the benchmark on Wednesday. • Canadian heavy crude ...