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News 1. Bank of England Holds Reverse Repo Rate Steady at 0.1 Percent 2. ECB Lowers Reverse Repo Rate to -0.5 Percent 3. Fed Unveils New Reverse Repo Facility Articles 1. What is a Reverse Repo Rate? 2. Reverse Repos: Understanding the Mechanics 3. Explaining Reverse Repo Operations Videos 1. What is a Reverse Repo Rate? 2. An Overview of the Reverse Repo Market 3. How Does a Reverse Repo Work?
NEW YORK (Reuters) -A key Federal Reserve facility that takes in cash from money market funds and others saw inflows drop sharply on Monday. The U.S. central bank's reverse repo facility took in $327.1 billion, down $80.2 billion from Friday, marking the lowest level of inflows since the facility took in $293 billion on May 19, 2021. The Fed's reverse repo facility exists to put a floor underneath short-term rates, taking in cash from eligible firms in loans collateralized with Treasuries held by the central bank.
Quoting government sources, the Reuters report says that Tata Motors' plans to import its JLR luxury electric cars lowers import taxes for companies agreeing to set up local manufacturing. Get more Stocks News and Business News on Zee Business.
"If these reports turn out to be true, fears over further escalation will only grow, as well as concerns that we are potentially moving closer towards a situation where oil supply risks lead to actual supply disruptions," Warren Patterson, head of commodities strategy at ING, is quoted as saying in a Reuters report. Get more Stocks News and Business News on Zee Business.
Reports of an explosion in Iran, near the city of Isfahan which houses a major military base, renewed fears about an escalation in the Israel/Iran conflict. Iranian officials say explosions were due to Iran's air defence system destroying three drones rather than missiles, Reuters reports. Israel has not commented, but Bloomberg reports Israeli officials had notified the US earlier Thursday that they planned to retaliate in the next 24-48 hours, according to two US officials who asked not to be identified discussing private conversations. Oil prices regained some of its earlier losses to hit 89.1 USD/bbl. (+2%) as of this morning, and safe-haven assets such as gold (+0.4%) and the CHF gained, while Asian equities slid.
The S&P 500 (SPY) closed at 4,967.23, below 5,000, in reaction to a high inflation report posted weeks earlier. Some Fed officials commented about keeping interest rates high, while one suggested a rate hike. After the markets closed, Reuters reported ...