Photographer: Anadolu Agency via Getty Images

Five Things People Will Be Talking About Today

Get up to speed on the big stories of the day.

JAPAN'S 'LOWFLATION' FIGHT

In Tokyo today, Bank of Japan Governor Kuroda admitted he couldn't rule out the risk of inflation dipping below zero. Kuroda blamed falling energy prices for the latest sluggishness but insisted consumer prices will pick up in the second half of this year. But what happens if it doesn’t? The BoJ is already expanding the monetary base at a rate 80 trillion yen, it's not clear how even more stimulus can help move the dial.

CHINA'S STOCKS CONTINUE SURGE

You have to go back to before the financial crisis in 2008 for when the Shanghai Composite was this high. The Index added another 1.6 percent in Asian trading to close at the highest level in over 6 years. The rally has been absolutely stunning, climbing over 70 percent in just 12 months.

TURKEY'S CENTRAL BANK THEATRE

 As the Fed starts its two day policy meeting in DC, over in Turkey it's decision day. The majority of economists surveyed by Bloomberg expect no change today but monetary policy there has been anything but boring. For anyone who has missed it, there has been a bit of soap opera playing out between the central bank's Governor and President Erdogan. Erdogan has questioned Governor Basci's loyalties for not cutting rates by even more. Despite both officials meeting last week to reconcile their differences, Societe Generale don't expect the political pressure to disappear any time soon.

ISRAEL'S UNCERTAIN ELECTION

Polls are open for Israel's general election. The most recent surveys suggest the election is still too close co call. Some polls see Prime Minister Benjamin Netanyahu trailing the opposition leader by only 3 or 4 seats. Final results will be announced on Thursday but it could take weeks for leaders to get together and form a government.

GERMAN INVESTORS ARE CONFIDENT

German investor confidence rose for a fifth straight month in March. Germany's ZEW survey of investor expectations came in below estimates but still climbed to 54.8 from 53 in the previous month. It won't come as a surprise to many of you but it appears investors like QE!

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