GLOBAL MARKETS: Lower interest rates for longer
Deutsche Bank is looking for ways to end its relationship with Donald Trump after the US presidential election, as it tires of the negative publicity stemming from the ties, according to three senior bank officials. The bank has about $340m in loans outstanding to the Trump Organisation, his umbrella group.
The three loans, which are against Trump properties, start coming due in two years.
Lower for longer
Australia’s central bank has trimmed interest rates to near zero and ramped up its bond-buying plans in an attempt to help the economy recover from the country’s worst downturn in a generation.
The Reserve Bank of Australia (RBA) said it would buy A$100bn of government bonds with maturities of around five to 10 years over the next six months, a more aggressive pace than some had expected. The RBA also cut its target for three-year bond yields to 0.1%, from 0.25%, to align with the cash rate.
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