Germany’s IFO March Business Sentiment Rises Significantly
ZURICH (MaceNews) – German business sentiment rose significantly in March, to the highest level since June of 2019, as current conditions and the outlook components exceeded both expectations and the result of the previous month. The Ifo Institute’s Business Sentiment Index rose in March to 96.6 from a revised 92.7 (92.4) in February, beating the […]
Eurostat: Final Feb Inflation in Euro Area +0.9%/Feb
ZURICH (MaceNews) – Inflation in the Euro-area rose 0.9 percent in February, confirming the preliminary figure, Eurostat reported Wednesday. The February result matched the median of an Econoday survey of economist’s forecasts and was the same rate as in January. On a monthly basis, prices rose 0.2 percent. The overall gain was mitigated by a […]
Italy’s Govt Readies +Euro 20-20 Bln in Extra Deficit Spending to Tackle Pandemic, Delayed Vaccinations- Sources
By Silvia Marchetti ROME (MaceNews) – Italy’s government prepares to clear soon some EUR 20-30 billion in extra deficit spending to tackle the protracted pandemic with additional measures to support the recovery, according to ruling coalition sources. An official argued that the figure could be even higher if the economic outlook further worsens and there […]
Germany’s Economic Sentiment Improves in March; Inflation Seen Higher
ZURICH (MaceNews) – The outlook for Germany’s economy improved in March among financial experts, according to the latest report from the Mannheim-based ZEW institute. The index rose to 76.6 in March, beating the median of 75.0 in an Econoday survey of economic forecasts, rising 5.4 points from the February result. Since December 2020, the index […]
Italy’s Likely Funding Target for 2021 About 500B Euros, Possibly More – Sources
By Silvia Marchetti –Second Nationwide Lockdown to be Running Through Easter–‘Overall Picture Remains Gloomy and Uncertain’ ROME (MaceNews) – Italy’s bond issuance program for this year will likely be slightly higher than EUR 500 billion, in line with 2020 according to ruling coalition sources. There are roughly EUR 230 billion in maturing bonds’ rollover to […]
European Central Bank to Accelerate Asset Purchases to Combat Rising Bond Yields
By Laurie Laird LONDON (MaceNews) – The European Central Bank will accelerate purchases under its crisis quantitative easing programme, but otherwise left policy unchanged at Thursday’s Governing Council meeting, as it confronted the recent rise in bond yields. “There was consensus at the table of the Governing Council today,” said ECB President Christine Lagarde, briefing […]
Draghi Government Eyes Italian Tax Cuts, Simpler, More Progressive Tax Regime – Sources
By Silvia Marchetti ROME (MaceNews) – Italy’s government is considering ambitious tax reform aimed at cutting Italy’s high taxes, simplifying its complex mix of exemptions, deductions, and credits, and helping lower earners, according to ruling coalition sources. Reducing taxation is paramount to kickstart the post-COVID recovery and boost consumption rates, argued sources. Italy’s income taxation […]
Re OPEC+, ‘Prudence’ is Watchword as Production Limits Mostly Left in Place
By Brai Odion-Esene, SW4 Insights for Mace News WASHINGTON (MaceNews) – Major oil-producing countries Thursday voted to maintain limits on their collective output levels for another month, arguing that the still-cloudy global economic outlook requires a prudent approach. “The Meeting recognized the recent improvement in the market sentiment by the acceptance and the rollout of […]
Germany’s Bundesbank Increases Risk Provisioning; Won’t Distribute Profit
ZURICH (MaceNews) – Germany’s Bundesbank, the nation’s central bank, won’t be distributing profits for the first time since 1979 as it increased its provisions for general risks by 2.4 billion euros to 18.8 billion. The Bank’s model-based assessment had “flagged a considerable increase in risks, with interest rate risk and default risk in the monetary […]
Euro Area February Flash CPI Rose 0.9%; +1.0% Expected
Zurich (MaceNews) – Consumer prices in the euro area are expected to rise 0.9% in February from a year ago, led by food, alcohol and tobacco prices, according to the HICP flash estimate released today by Eurostat. Economists had expected inflation to rise 1.0%, according to the median forecast of a survey of economists conducted […]