BofA Global Research Fund Manager Survey: Global Growth Expectations Wither Further in September
By Vicki Schmelzer NEW YORK (MaceNews) – Global growth expectations withered further in September, according to the findings of BofA Global Research’s monthly fund manager survey, released Tuesday. Even though world growth expectations declined again this month, investors made only mild tweaks in their equity and bond portfolios. A net 13% of those polled in […]
ECB To Decelerate QE Purchases; No Word on What Will Succeed Emergency Programme
By Laurie Laird LONDON (MaceNews) – The European Central Bank will decelerate the pace of asset purchases in the third quarter, as it presented upgraded forecasts for the next year, but provided no clue as to what will replace its emergency purchase programme which is due to end next year. “Based on a joint assessment […]
Italy’s Local Elections Raise Coalition Tensions, Risk Delaying Reforms – Sources
By Silvia Marchetti ROME (MaceNews) – Italy’s upcoming local elections are bound to fuel tensions between government parties with the risk of delaying key reforms needed to kickstart the recovery, ruling coalition officials warned. “The League, the Democrats and the 5 Stars are bickering on a daily basis in an attempt to boost their popularity […]
Germany’s July Industrial Output Rose 1.0% M/M, Led by Capital Goods
ZURICH (MaceNews) – Industrial production in Germany rose 1.0 percent in July from the previous month, beating expectations on strong orders for capital goods, the Federal Statistics Office (Destatis) reported Tuesday. The increase exceeded the median forecast for a 0.1 percent monthly gain, according to the charteconomicdata.com calendar. Today’s result for production comes one day […]
Bank of England Appoints Former Goldman Sachs Analyst Huw Pill As Chief Economist
— Pill has also served at the ECB and the BoE LONDON (MaceNews) – Former Chief European Economist at Goldman Sachs, Huw Pill, will become chief economist at the Bank of England, the Bank revealed on Wednesday. Pill served at the investment bank until 2018 and has most recently lectured at Harvard Business School. Previously he […]
ECB’S De Guindos Hints at Adjustment to PEPP Purchases at Sept Meeting
— Recent economic data ‘are very positive’ LONDON (MaceNews) – The eurozone recovery has picked up steam in recent months, which could prompt discussions of adjustments to the European Central Bank’s emergency asset purchase programme next week, according to a top rate setter. “In September, we will have to decide on the volume of purchases […]
Eurozone Consumer Prices Rose 3.0 Percent in August from A Year Ago on Energy Costs
ZURICH (MaceNews) – Consumer prices in the Euro area rose more than expected in August, driven higher once again by increased energy costs, the latest data from Eurostat showed. The flash estimate for August HICP showed consumer prices up 3.0 percent from a year-ago level, exceeding the median of 2.8 percent in an Econoday survey […]
Italy to Push for a Stronger EU Defense; Afghan Crisis Will Have Repercussions – Sources
By Silvia Marchetti ROME (MaceNews) – Italy will push for a stronger, more coordinated European defense policy and the creation of ‘emergency’ intervention units to tackle geopolitical crises, according to ruling coalition sources. “The U.S.’ withdrawal from Afghanistan, and the way in which the entire NATO mission has failed to deliver a stable country, is […]
Germany Aug IFO Business Climate Index Fell on Supply and Covid Concerns
ZURICH (MaceNews) – A more pessimistic outlook among German business in August pulled the Ifo Business Climate Index below 100 and was weaker than expected, according to the latest results from the Ifo Institute in Munich. The Business Climate Index fell to 99.4 from 100.7 in July, below the Econoday median of 100.4, amid supply […]
Eurozone Final July HICP Rose 2.2% Year-on-Year, Confirming Flash Estimate
ZURICH (MaceNews) – Inflation in the euro area rose 2.2 percent from a year ago in July, rising from 1.9 percent through June, final figures released by Eurostat showed Wednesday. Energy prices rose 14.3 percent in July, revised up from the flash estimate of 14.1 percent, with the rate increasing from 12.6 in June. Without […]