Thursday, 19 March 2026
The Federal Reserve maintained its interest rate target range at 3.5-3.75% during its meeting on March 18, 2026, projecting only one reduction in borrowing costs for the year despite rising inflation. The effective federal funds rate was recorded at 3.64%, reflecting a decrease from the 4.25-4.5% range held a year prior. The Fed's next meeting is scheduled for April 29, 2026.
Josh D’Amaro has officially taken over as CEO of The Walt Disney Company, succeeding Bob Iger, as of March 18, 2026. In his inaugural address at the Annual Meeting of Shareholders, D’Amaro outlined his vision to enhance Disney's performance by leveraging technology to create a more connected and immersive consumer experience, while also emphasizing the importance of storytelling across its franchises. He highlighted the upcoming release of Toy Story 5 and the integration of Disney+ and Hulu into a unified platform as key initiatives under his leadership.
The FTSE 100 declined significantly as Brent crude oil prices surged by five percent to $110 per barrel, driven by escalating tensions following Iranian threats against energy facilities in the Gulf. The Bank of Canada noted that the ongoing conflict in the Middle East has increased volatility in global energy prices, contributing to heightened inflation risks and tighter financial conditions. Meanwhile, US producer prices rose by 0.7% in February, exceeding expectations and further influencing market sentiment.
The Bank of Japan reported that its share of Japanese government bond holdings has fallen below 50% for the first time in three and a half years, according to data released on Wednesday. This decline reflects the central bank's ongoing efforts to normalize its monetary policy.
Micron Technology Inc. announced plans to increase its factory spending to over $25 billion this fiscal year to meet rising demand for memory chips, particularly those used in artificial intelligence applications. This figure exceeds analysts' estimates of $22.4 billion, with CEO Sanjay Mehrotra indicating that expenditures will rise by more than $10 billion in fiscal 2027. Despite a projected fiscal third-quarter revenue of approximately $33.5 billion, which significantly surpasses analyst expectations, Micron's shares fell by as much as 4.9% following the announcement.
BlackRock has imposed a 5% cap on withdrawals from its HPS Corporate Lending Fund (HLEND) amid rising redemption pressures in the private credit sector, which has seen significant turmoil as investors rush to withdraw their funds. This move, coupled with a securities fraud investigation into potential unlawful practices by BlackRock and certain officers, underscores the broader funding and liquidity stress affecting private credit managers. Similar restrictions at other firms, such as Morgan Stanley’s North Haven Private Income Fund, indicate a widespread challenge within the industry.
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