Italy Fiscal Plan Sees 2020 Deficit 10.8%, GDP -9%, Debt To GDP 158% – Treasury Sources
By Silvia Marchetti ROME (MaceNews) – Italy’s government is expected to put forward on Wednesday a fiscal plan that sets the budget deficit at 10.8% of GDP this year and public debt at 158%, while the economy will contract by 9% on the pandemic impact, according to Treasury sources. Ruling coalition parties reached agreement on […]
BANK OF ENGLAND CHIEF CONTINUES TO REVIEW NEGATIVE RATES; DOWNPLAYS IMMINENT RATE CUT
By Laurie Laird LONDON (MaceNews) – The Bank of England is continuing to review the efficacy of negative interest in the UK, but the country’s leading central banker Tuesday downplayed the possibility of any policy change over the near term. The Bank is “doing the groundwork” on the benefit of sub-zero rates, but has “reached […]
EUROZONE ECONOMIC SENTIMENT SHOWS IMPROVEMENT BUT PACE SLOWS
By Marco Babic ZURICH (MaceNews) – Economic sentiment in the countries sharing the Euro improved in September, but at a slower pace than in previous months, the European Commission reported Tuesday. The Commission’s Economic Sentiment Indicator (ESI) rose to 91.1 in September, an improvement of 3.6 points from the 87.5 result in August. By comparison, […]
ECB’S SCHNABEL CALLS FOR A EURO CARBON TAX
— Chastises investors for under-pricing the risk of climate changeBy Laurie Laird LONDON (MaceNews) – A top European central banker Monday rebuked investors for under-pricing the risk of climate change and called for a global carbon price to challenge the ecological and financial harm presented by global warming. “A global climate price is the most […]
ECB’S LAGARDE UNVEILS NEW TRANSPARENCY MEASURES
–Gives no clues as to future monetary policy in an address to an EU committee By Laurie Laird LONDON (MaceNews) – Europe’s top central banker Monday promised greater transparency in its communications with the European Parliament, stepping up efforts to enhance public accountability following a rebuke from German court back in May. Effective immediately, the […]
ITALY LOCAL VOTE WEAKENS CONTE GOVERNMENT; THREATENS TO DELAY QUICK EU AID
By Silvia Marchetti ROME (MaceNews) – Italy’s local elections on Sunday-Monday have further weakened the ruling coalition and the outcome is likely to delay the approval of a key plan by parliament to apply for European pandemic aid. The center-right League Party of populist Matteo Salvini triumphed in the Marche region, a traditional Democratic stronghold, […]
ECB’S LAGARDE: RECOVERY REMAINS UNCERTAIN; GOV COUNCIL MONITORING EURO STRENGTH
— ECB President Makes No Mention of Any Review of Asset Purchases By Laurie Laird LONDON (MaceNews) – The eurozone economy faces an uncertain future, despite evidence of a robust third quarter rebound, according to the eurozone’s top central banker. “While incoming data suggest that we will see a strong rebound during the third quarter, […]
BOE LEAVES POLICY UNCHANGED; SETS THE STAGE FOR NOVEMBER EASING
By Laurie Laird LONDON (MaceNews) – The Bank of England made no changes to its benchmark rate or quantitative easing package at Wednesday’s rate setting meeting but left the door wide open for policy changes at its next gathering in November. Interest rates remain at a record low of 0.1%, while the total stock of the […]
BofA GLOBAL MANAGERS’ SURVEY: STILL UPBEAT RE WORLD GROWTH PROSPECT; BULLISH EQUITIES
— Inflation Fears Persist By Vicki Schmelzer NEW YORK (MaceNews) – Global investors polled in September remained upbeat about world growth prospects and bullish towards equities, according to the findings of BofA Global Research’s monthly fund manager survey, released Tuesday. This month, a net 84% of fund managers looked for global growth to strengthen […]
GERMAN ECONOMIC SENTIMENT IMPROVED AGAIN IN SEPTEMBER, BEATS EXPECTATIONS
ZURICH (MaceNews) – The economic outlook for Germany improved again in September as both economic sentiment and current conditions rose more than analysts had expected, even in the face of rising COVID-19 cases. The ZEW Indicator which measures the outlook for economic sentiment over six months improved 5.9 points in September to 77.4. This was […]