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Union Bank of Switzerland’s analysis team note that the world’s major central banks have become more dovish.

Key Quotes

“This week US Fed Chair #Powell reiterated the Fed’s patient, data-dependent stance in testimony to Congress.”

“The hawks at ECB are sounding more dovish. Bundesbank President Weidmann said that there was “much to suggest” that weakness in Germany’s growth is persisting in 2019.”

“And Bank of Japan (BoJ) Governor Haruhiko Kuroda said last week that the central bank might ease policy further if a strong yen hurts the economy.”