Europe sees calm week, uncertainty extends ahead of Scotland vote

After the rate decisions by the European Central Bank and the Bank of England earlier this month, which was followed by high volatility, some calmness dominated the market last week amid the absence of important data in Europe.

Worries over the health of the world’s major economies, and somewhat easing geopolitical turmoil across the Ukraine and the Middle East had little impact on global markets last week.

With markets on wait-and-see tone as the Federal Reserve expected to wind down its bond-buying stimulus program and the European Central Bank mulls beginning one, cautious will likely remain the dominant theme.

Last week, The International Monetary Fund has warned that a yes vote in this week`s Scottish independence referendum could result in financial market turmoil.

The long-term impact on the economy would be determined by the outcome of the detailed negotiations carried out in the aftermath of the referendum.