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 […]
Italy Ready To Launch Long-Maturity Green Bonds – Sources
By Silvia Marchetti ROME (MaceNews) – Italy’s government is ready to issue its first-ever green debt to fund a maximum of EUR 35 billion in key environmental investments, according to ruling coalition sources. A global investor call is expected to take place on Monday at 3.30 p.m. CET to gauge market demand, followed by a […]
G20 Finance Ministers and Central Bankers Commit To Pursuing Accommodative Policies To Kickstart Recovery
Inbox By Silvia Marchetti ROME (MaceNews) – The G20 finance ministers and central bankers committed on Friday to pursuing accommodate fiscal and monetary policies and to step up joint efforts to tackle the COVID-19 pandemic. During an online meeting held by Italy’s G20 presidency, member countries acknowledged that health and economic conditions remain difficult despite the […]
ECB’s Schnabel Stresses ‘Duration’ of Monetary Policy Support
— Governing Council member Isabel Schnabel suggests limited scope for further rate cuts, QE By Laurie Laird LONDON (MaceNews) — A top European central banker acknowledged Friday the bank’s limited scope for further rate cuts and asset purchases, suggesting the ECB communicate its commitment to extend policy support over the longer term. “When financing conditions […]
Euro-area Economic and Consumer Sentiment Pick Up in February
ZURICH (MaceNews) – Improved confidence among consumers, industry and services bolstered economic sentiment in the euro-area in February, according to the latest report from the European Commission. The Economic Sentiment Index (ESI) rose to 93.4 in February from 91.5 in January and stands at the highest level since March 2020 when the index was 95.3. […]
Euro-Area CPI Rose 0.9% in January From a Year- Ago, Confirming Preliminary Reading
Zurich (MaceNews) – Consumer inflation in the Euro-area rose 0.9% in January from a year ago, according to final harmonized (HICP) figures released by Eurostat Tuesday. The increase, which confirmed the preliminary result released earlier this month, was led by services and non-energy industrial goods and matched the median of an Econoday survey of economists’ […]
German Business Sentiment Rose in February Despite Corona: Ifo
Zurich (MaceNews) – German business sentiment improved in February as both current conditions and expectations for the coming months improved, according to the latest report from the Munich-based Ifo Institute. The Ifo Institute’s Business Climate Index rose to 92.4 in February from a revised 90.3 the previous month (90.1), beating the median forecast in an Econoday […]