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ERO - Flash PMIs Disappoint Despite Negative Interest Rates
Barclays Bank PLC
Overview
As the UK awaits the EU's decision on its request, disappointing flash PMI readings Japan, Australia, and Germany have filled the news vacuum. Sweden's Riksbank retained a hawkish tone while keeping rates on hold, and Norway's Norges Bank also stood pat. The market expects Turkey to deliver a rate cut, while the ECB meeting is Draghi's last at the helm. Encouraged by US equity gains, the Nikkei rose to new highs for the year. India and China were notable exceptions to firmer equities in Asia Pacific. Japan and South Korea have agreed to a