ITALY’S CONTE WINS SENATE VOTE BUT LACKS STABLE MAJORITY TO PURSUE GOVT AGENDA
By Silvia Marchetti ROME (MaceNews) – Italy’s Prime Minister Giuseppe Conte Tuesday has won a key Senate confidence vote but with only a “relative majority” that hampers the government from fully ruling and efficiently pursuing its agenda. The final vote result was 156 yes and 140 no votes. The political crisis, triggered when the minor […]
GERMAN ECONOMIC EXPECTATIONS START 2021 ON A POSITIVE NOTE, ZEW REPORTS
By Marco Babic ZURICH (MaceNews) – Expectations for Germany’s economy started the year off on a positive note, even in the face of uncertainty about new COVID-19 restrictions, with the outlook for the export market in particular providing a foundation for optimism. The ZEW Institute’s Indicator of Economic Sentiment rose 6.8 points to 61.8 in […]
ITALY’S PM CONTE WINS LOWER HOUSE CONFIDENCE VOTE; SENATE CHALLENGE AHEAD
By Silvia Marchetti ROME (MaceNews) – Italy’s Prime Minister Giuseppe Conte won on Monday a key vote of confidence in the Lower House with 321 votes out of a total 630, six more than the absolute majority required. The main challenge will be on Tuesday morning at the Senate where the ruling coalition has a […]
STATUS CHECK COMMENTARY: WASHINGTON’S IDEOLOGICAL BATTLE AT INFLECTION POINT
–‘I Have a Dream’ or “I Have a Nightmare?’ WASHINGTON (MaceNews) – The following is Monday’s status check of developments in the U.S. that can influence economic, health and political outcomes. • Great battles seldom preserve the status quo and the one shaping up in Washington could greatly accelerate ideological change or usher in an […]
DATA PREVIEW: HOUSING WEEK AND HOPEFULLY NEW BEGINNINGS
–Domestic Terrorism, Mounting Virus Death Tolls, Deep Divisions Overwhelm Data WASHINGTON (MaceNews) – The upcoming week’s events, an Inauguration Day in the armed camp “Green Zone” that is now D.C. amid threats of violence at statehouses across the country, overshadows what little economic data will be published. The week begins with a holiday, progresses to […]
ITALY RECOVERY AHEAD, BACK TO PRE-PANDEMIC LEVELS IN 2023 – BOI
By Silvia Marchetti ROME (MNI) – The Bank of Italy Friday forecast an average 3.5% GDP growth this year, 3.8% in 2022 and and 2.3% in 2023 when pre-crisis levels are expected to be recovered. In its economic bulletin the BOI said the European Central Bank’s ongoing accommodative policy stance and new European measures aimed […]
FED’S BEIGE BK SEES MODEST EXPANSION AMID MIXED SIGNALS
WASHINGTON (MaceNews) – The surge in COVID-19 cases and “stricter containment measures” have produced mixed results for consumer spending while manufacturing has continued to recover despite weaker auto sales, the Federal Reserve’s Beige Book survey suggested Wednesday. Four districts – Kansas City, Philadelphia, St. Louis and New York – reported no improvement and “a growing […]
BOE RATE SETTER: UK CONTRACTION EXAGGERATED BY STATISTICAL ANOMALIES
— MPC Member Broadbent suggests inflation has fallen by less than feared By Laurie Laird LONDON (MaceNews) – The UK economic contraction may have been exaggerated by the statistical measurement of public services, according to a Bank of England official, who also downplayed sustained below-target inflation in Britain. “Part of the drop in GDP reflects an […]
FED’S BOSTIC: READY TO ‘RECALIBRATE’ POLICY IF ECON STRONG BUT DON’T SEE 2021 HIKES
By Steven K. Beckner (MaceNews) – Atlanta Federal Reserve Bank President Raphael Bostic said Monday he would be willing to consider “recalibrating” the Fed’s monetary policy stance if the economy proves stronger than expected, but said he can’t envision raising the federal funds rate from near zero until next year at the earliest. Bostic, a […]
BOE OFFICIAL MAKES FORCEFUL CASE FOR NEGATIVE UK INTEREST RATES
—Tenreyro Sees Diminishing Benefit of QE as UK Output Contracts Sharply By Laurie Laird LONDON (MaceNews) – A top Bank of England rate setter forcefully endorsed the case for sub-zero interest rates, raising questions over the continued benefits of quantitative easing with UK output in the midst of another severe contraction. “My overall assessment is […]