Commodities remained firm in European session, ahead of a number of central bank meetings. Indeed, all of the ECB, the BOE and the BOC are expected to leave the policy rates unchanged in March. However, what matters that most would be the tone delivered in the post-meeting statements as this would unveil policymakers’ views on the macroeconomic outlook. Given the dovish tones set in the RBA and the RBNZ statements, we expect the dominants themes would be concerns over the sovereign debt crisis in the Eurozone and a gloomy macroeconomic outlook.
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Markets Firmed ahead of Central Bank Meetings
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