Governatives

The Central Bank of Russia has cut interest rates citing more positive inflation trends and stable. The high inflation fears and still potentially rising reduces, the institute led by Governor Elvira Nabiullina has lowered the cost of money by 50 basis points, now fixed at 10.5% from 11% previously.

The last time the Bank of Russia has cut interest rates dates back to August 3, 2015, from 11.5% to 11%. "The easing of inflationary pressures allows us to hope for a sustainable reduction in the index of prices to below 5% in May 2017, to 4% target towards the end of next year," said the institute in a statement . The next meeting is expected on July 29.

Oman has raised funds on international markets to stem the financial crisis caused by the collapse in oil prices. Thus, the government of the Arab country has placed 2.5 billion usd bonds, becoming the last country of the Gulf, in order of time, to rely on debt to support its budget market.
The sale is the first Omani issue on international markets for almost two decades. The government placed five-year notes at a coupon rate of 3.625%, and a 10-year at 4.75%. The yields of both bonds were lower than the initial guidance, reflecting a strong demand from local and international buyers. The total demand received from the Government should have been around 7 billion USD, reported the source.

The yield on German 10-year Bund retouchs historic low. The record marked yesterday with an interest of 0.47% has been canceled today at the start of trading on European markets. The yield on the Bund falls to 0.33% and approaches the fateful zero.

All government bonds of the euro area are well procured from a few sessions but not with the intensity of the German 10-year. Meanwhile, today part of the plan purchases of corporate bonds non-bank by the ECB as part of the Qe and with the goal of bringing in 80 billion euro monthly purchases. Among the operators some fear that the Eurotower not reach at least 5 billion of corporate bonds and the level below € 3 billion would be read as a failure.

The Bilderberg Club which brings together the powerful of the earth, by the big economic and finance to policy, from industrial to the most influential personalities of the media world, will meet from June 9 to June 12 in Dresden, Germany, and will have at the center of discussions the possible exit of the UK from the EU, the so-called Brexit, and the secret and controversial transatlantic treaty of free trade between the EU and USA.

"The monthly data on the labor market is an important indicator. We will continue to follow the trend of the labor market carefully," Yellen said, stressing that the current level of monetary policy is "appropriate to support the economy and encourage further improvements in the labor market, which will help inflation return to the 2% ".

"I still believe that rates will rise gradually over time to ensure price stability and maximum sustainable employment in the long term", Yellen highlights . "I believe that the positive forces that sustain employment growth and inflation will continue to weigh more than the negative ones. I expect the continuous economic expansion, with the labor market still improve and that GDP will grow."

Facebook is also involved in the referendum on Brexit, which will see the UK go to the polls next June 23 to decide whether to remain in the European Union. The popular social network has decided to side openly with an alert sent to citizens under 45 years, statistically mostly against Brexit, to register before the deadline of this evening to participate in the referendum of 23 June. Collecting approximately 100 thousand favorable responses from users who have immediately followed the advice.

In one day there were 155 thousand people: 52 thousand between 18 and 24 years, 68 thousand from 25 to 34 and 35 thousand from 35 to 44. It is more than three times what they had done in previous days: According to The Times, three fifths were convinced by Facebook.

The Kremlin leader Vladimir Putin gave his welcome address to the International Economic Forum in St. Petersburg. during the presentation speeches.
"The global economy is increasingly influenced by political and social factors," said the Russian president in the welcome message to the event which will take place from 16 to 18 June. As communicated to the president of the European Commission, Jean-Claude Juncker from Brussels should be present.

The proposal was rejected by an overwhelming majority, with a percentage of 78%. So the Swiss have expressed a clear denial, as had clearly foreseen by the polls. Even the government was opposed to the excessive spending that would entail. The proposal for a "citizen’s income" equal for all was launched by Daniel Haeni, owner of Coffee Basel, and a group of his allies who call themselves independent, but showed from the outset to have little chance of being approved despite the interest he had aroused in public opinion Swiss. In addition, for approval it would be needed a double majority, that of the "cantons" and that of voting.