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OECD’s Gurria: European Central Bank can't set policy based on daily swings in the market

The Organisation for Economic Co-operation and Development (OECD) Secretary-General Jose Angel Gurria was out on the wires last minutes, via Bloomberg TV, making some comments on the European Central Bank’s (ECB) monetary policy outlook.

Key Points:

ECB has been invaluable in providing stability.

Policymakers must wait to make a definitive response.

Italy has made progress on dealing with NPLs.

Global growth is close to 4% this year.

Sees limited monetary policy room, economies need reform.

GBP/USD Technical Analysis: Sterling poised for further downside, channel points south

GBP/USD chart, 1 Hour Spot rate:               1.3255 Relative change:   (-0.42%) Trend:                     Bearish Support 1:             1.32
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IMF: China’s GDP growth to moderate gradually to about 5.5% by 2023

In its latest outlook report on China’s economy, the International Monetary Fund (IMF) maintains China’s 2018 GDP growth forecast at 6.6 percent. Add
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