EUROZONE INFLATION STUCK IN THE RED AHEAD OF THURSDAY’S ECB MEETING
—HICP Falls by an Annual Rate of 0.3% in December, Marking the Fifth-Straight Decline By Laurie Laird LONDON (MaceNews) — Eurozone inflation remained stubbornly in the red at the close of last year, with the HICP index slumping by an annual pace of 0.3%, according to data released by Eurostat on Wednesday. That decline matches […]
ITALY’S CONTE WINS SENATE VOTE BUT LACKS STABLE MAJORITY TO PURSUE GOVT AGENDA
By Silvia Marchetti ROME (MaceNews) – Italy’s Prime Minister Giuseppe Conte Tuesday has won a key Senate confidence vote but with only a “relative majority” that hampers the government from fully ruling and efficiently pursuing its agenda. The final vote result was 156 yes and 140 no votes. The political crisis, triggered when the minor […]
GERMAN ECONOMIC EXPECTATIONS START 2021 ON A POSITIVE NOTE, ZEW REPORTS
By Marco Babic ZURICH (MaceNews) – Expectations for Germany’s economy started the year off on a positive note, even in the face of uncertainty about new COVID-19 restrictions, with the outlook for the export market in particular providing a foundation for optimism. The ZEW Institute’s Indicator of Economic Sentiment rose 6.8 points to 61.8 in […]
ITALY’S PM CONTE WINS LOWER HOUSE CONFIDENCE VOTE; SENATE CHALLENGE AHEAD
By Silvia Marchetti ROME (MaceNews) – Italy’s Prime Minister Giuseppe Conte won on Monday a key vote of confidence in the Lower House with 321 votes out of a total 630, six more than the absolute majority required. The main challenge will be on Tuesday morning at the Senate where the ruling coalition has a […]
STATUS CHECK COMMENTARY: WASHINGTON’S IDEOLOGICAL BATTLE AT INFLECTION POINT
–‘I Have a Dream’ or “I Have a Nightmare?’ WASHINGTON (MaceNews) – The following is Monday’s status check of developments in the U.S. that can influence economic, health and political outcomes. • Great battles seldom preserve the status quo and the one shaping up in Washington could greatly accelerate ideological change or usher in an […]
ITALY RECOVERY AHEAD, BACK TO PRE-PANDEMIC LEVELS IN 2023 – BOI
By Silvia Marchetti ROME (MNI) – The Bank of Italy Friday forecast an average 3.5% GDP growth this year, 3.8% in 2022 and and 2.3% in 2023 when pre-crisis levels are expected to be recovered. In its economic bulletin the BOI said the European Central Bank’s ongoing accommodative policy stance and new European measures aimed […]
ECB SIGNALS LESS RELIANCE ON QE AMID SIGNS OF GOVERNING COUNCIL DISAGREEMENT
–Minutes of December Meeting Suggest Council May Not Exhaust Emergency QE Allocation By Laurie Laird LONDON (MaceNews) – The European Central Bank could rely more heavily on its long-term refinancing operations in combatting the Covid-related economic downturn, although minutes of the December rate-setting meeting suggest some disagreement about the appropriate policy path. “The focus on […]
ECB’S LAGARDE: BANK TO FOCUS ON ‘FINANCING CONDITIONS;’ DOWNPLAYS EXPANSION OF PEPP
–Ongoing Strategic Review Will Assess Inflation Measurement and ‘Symmetry’ in Meeting Target By Laurie Laird LONDON (MaceNews) – The European Central Bank could continue to rely on its long-term financing operations to provide stimulus to the Covid-stricken euro zone economy rather than expanding its asset purchase programme, according to the Bank’s leader Wednesday. “We’re going […]
BOE RATE SETTER: UK CONTRACTION EXAGGERATED BY STATISTICAL ANOMALIES
— MPC Member Broadbent suggests inflation has fallen by less than feared By Laurie Laird LONDON (MaceNews) – The UK economic contraction may have been exaggerated by the statistical measurement of public services, according to a Bank of England official, who also downplayed sustained below-target inflation in Britain. “Part of the drop in GDP reflects an […]
ITALY GOVT FACES RISK OF COLLAPSE, SHOWDOWN FOR PM CONTE OVER EU AID – SOURCES
By Silvia Marchetti ROME (MaceNews) – Italy faces the risk of a government crisis right in the middle of an unprecedented pandemic as the minor Italia Viva party threatens to pull out of the ruling coalition if a new ruling pact isn’t reached. A meeting scheduled on Tuesday between coalition parties will be showdown time […]