Category: Covid-19

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 […]

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 […]

DATA PREVIEW: HOUSING WEEK AND HOPEFULLY NEW BEGINNINGS

–Domestic Terrorism, Mounting Virus Death Tolls, Deep Divisions Overwhelm Data WASHINGTON (MaceNews) – The upcoming week’s events, an Inauguration Day in the armed camp “Green Zone” that is now D.C. amid threats of violence at statehouses across the country, overshadows what little economic data will be published. The week begins with a holiday, progresses to […]

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 […]

FED’S POWELL: NOW NOT TIME TO TALK ABOUT EXIT; WON’T CONSIDER UNTIL GOALS REACHED

— Vows To Communicate Very Clearly To Markets To Avoid 2013-style ‘Taper Tantrum’ By Steven K. Beckner (MaceNews) – Federal Reserve Chairman Jerome Powell stressed Thursday that the Fed is far from “exiting” either its zero short-term interest rate stance or its aggressive asset purchase program and proclaimed that the Fed will clearly communicate its […]

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 […]

FED’S BEIGE BK SEES MODEST EXPANSION AMID MIXED SIGNALS

WASHINGTON (MaceNews) – The surge in COVID-19 cases and “stricter containment measures” have produced mixed results for consumer spending while manufacturing has continued to recover despite weaker auto sales, the Federal Reserve’s Beige Book survey suggested Wednesday. Four districts – Kansas City, Philadelphia, St. Louis and New York – reported no improvement and “a growing […]

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 […]