ECB’s Monetary Policy To Stay On Course Despite Inflation Rise – BOI
By Silvia Marchetti ROME (MaceNews) – The European Central Bank’s monetary policy is expected to remain accommodative despite the “significant” but “temporary” rise in inflation across the eurozone, the Bank of Italy said in its Economic Bulletin released on Friday. According to the BOI “the significant rise in inflation is attributable to the increases in […]
Bundesbank’s Weidmann Makes Surprise Announcement, to Step Down at Year End
— ECB Governing Council to Lose One Of Its Most Hawkish Rate Setters By Laurie Laird LONDON (MaceNews) – Jens Weidmann, president of Germany’s Bundesbank, will relinquish his position at the end of 2021, ridding the European Central Bank of one its most hawkish voices. Weidmann has asked German President Frank-Walter Steinmeier to “dismiss” him […]
BofA Global Research Fund Manager Survey: Increasingly Negative World Growth Outlook Prompt Former Bulls To Retreat in October
By Vicki Schmelzer — Record Underweight in Bonds On Rate Hike Jitters NEW YORK (MaceNews) – World growth expectations fell more markedly in October, prompting formerly bullish global investors to retreat, according to the findings of BofA Global Research’s monthly fund manager survey, released Tuesday. Growth expectations were weighed by fears of higher interest rates, […]
Italy to Clear EUR20-25 Billion Budget Plan with Tax Cuts and Pension Fixes – Sources
By Silvia Marchetti ROME (MaceNews) – Italy’s government will approve by end of this week the 2022 budget plan worth up to EUR 25 billion with tax cuts, pro-growth measures and a fix to the current pension system, according to sources. “We’re holding a preliminary meeting today to define the general framework but we still […]
Italy’s G20 Summit on Afghanistan: UN Tasked with Crisis Exit Road Map, IMF, World Bank Aim to Head off ‘Financial Collapse’
By Silvia Marchetti ROME (MaceNews) – The G20 extraordinary summit on Afghanistan held on Tuesday under the Italian presidency mandated the United Nations with the task of defining a global ‘road map’ to tackle the humanitarian crisis and avoid the financial collapse of the nation. At the end of the online event, Italian premier Mario […]
Supply Bottlenecks Punish German Economic Sentiment in October
ZURICH (MaceNews) – Economic sentiment in Germany fell in October as supply bottlenecks for raw materials and intermediate products hamper the economy, according to the latest report from the ZEW Institute in Mannheim. The ZEW index of economic sentiment fell 4.2 points to 22.3 in October, below the 24.0 median of an Econoday survey of […]
Italy’s Government Tensions Likely to Spike Over Upcoming Thorny Competition Law – Sources
By Silvia Marchetti ROME (MaceNews) – Rome’s government is expected to clear by the end of October a key thorny competition law aimed at supporting investments, a law which is likely to further raise tensions among ruling allies, according to coalition sources. The decree, which was meant to be initially approved ahead of the summer, […]
Eurozone Inflation Again Driven Higher by Energy Costs
ZURICH (MaceNews) – Pushed by continued double-digit growth for energy costs, consumer prices in the Eurozone rose more than forecast for September, the latest data from Eurostat showed. Consumer prices as measured by HICP rose 3.4 percent in September according to preliminary figures, exceeding the median of 3.3 percent in an Econoday survey of economists’ […]
ECB’S Lagarde Downplays Prospect of Early Eurozone Rate Hike Despite Rising Inflation
— HICP expected to top 3% in December LONDON (MaceNews) – Eurozone interest rates are likely to remain at record lows for the foreseeable future, with the recent rise inflation seen as temporary, according to European Central Bank President Christine Lagarde. “The key challenge is to ensure that we do not overreact to transitory supply shocks,” […]
MaceNewsViews: Commentary – Sorry, Europe, the US – and China – Won’t Let You Sit This One Out
By Denny Gulino WASHINGTON (MaceNews) – The German federal election proceeds as if the choices don’t matter all that much. Regardless of the personalities a relatively centrist coalition will finally endeavor to strike the path ahead, in Germany’s case, a path of least resistance – as long as it can. Climate, stability, prosperity. Chances are, […]