Shoppers walk through an open air market in Huddersfield, West Yorkshire in UK as lockdown measures are eased during the novel coronavirus pandemic. Agence France-Presse
Battered by years of low interest rates, eurozone banks are looking at a multi-billion-euro consolation prize if the ECB grants them an expected reprieve from its penalty charge on deposits, according to Reuters calculations.
The European Central Bank has to maintain the "safety net" of its massive bond purchases at least until June 2021 to help underpin the economy, the ECB's President Christine Lagarde said on Friday, reaffirming the bank's policy stance.
Australia’s strong economic performance of recent decades has allowed its central bank to avoid the kinds of unorthodox policies seen in other countries, but record low rates mean less conventional measures may be needed to tackle new challenges.
The industry was hit twice because of the coronavirus, with export orders evaporating and then a shortage of workers caused by a national lockdown to stop the spread of the virus.
The benchmark Nikkei 225 index soared 405.65 points or 1.78 per cent to 23,249.61, the best close since February 21, the broader Topix index rose 18.62 points or 1.16 per cent to 1,624.15.
Brent crude was down 26 cents or 0.6% at $45.17 a barrel by 0647 GMT, after a gain of around 2% in the previous session. West Texas Intermediate oil also lost 0.6%, a 25 cent decline to $42.42 a barrel which followed a climb of 2.6% on Wednesday.