Bank of America has revised its forecast for a rate cut in the US. Now experts predict the first rate cut by the US Fed only in December this year and only by a quarter of a percentage point.
It looks like the ECB will now take the lead in cutting interest rates. Comments of its representatives confirm such prospects. China's trade balance data confirms the country's patchy economic recovery.Hopes that global demand would help China's recovery were dashed by reports on the country's trade balance. The data showed that the world's second-largest economy sharply reduced export volumes in March.
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