Draghi still dovish say analysts September 5, 2013 Some analyst feedback to European Central Bank president Mario Draghi's presser: Christian Schulz, senior economist, Berenberg: ECB President Draghi noted some further progress in the defragmentation of the Eurozone financial system. For example, interest rates on loans to companies of up to €1m, a proxy for SME financing conditions, have dropped a little further in [...]
ECB bumps up this year’s growth forecast but slashes 2014 expectations September 5, 2013 The European Central Bank (ECB) has adjusted its predictions from June, revising up its 2013 GDP forecast from -0.6 per cent to -0.4 per cent. A cut to next year's estimate though, reduced by 0.1 percentage point from 1.1 per cent to 1.0 per cent. ECB president Mario Draghi has said that risks to the [...]
The US jobless claims four week average has fallen to its lowest level since October 2007 September 5, 2013 US intial jobless claims have dropped from 332,000 (revised from 331,000) to 323,000. Well below expectations of a fall to 330,000. That's put the four week average down to its lowest level since October 2007.
European Central Bank holds all rates September 5, 2013 The European Central Bank (ECB) has elected to hold all rates. That's not unexpected. We'll bring you the news from ECB president Mario Draghi's presser later, at 13:30.
Forward guidance sees Carney anchor rates despite recovery September 5, 2013 The Bank of England has announced that rates have been held despite an improving economic picture. Rates have been maintained at their historic lows of 0.5 per cent despite new data showing that the UK's services industry grew at the fastest rate since 2006 last month. That is the latest in a string of datapoints [...]
Lloyds sale could be delayed by Syrian crisis and threat of Fed tapering September 5, 2013 The sale of the government's 39 per cent stake in Lloyds may be delayed by Syrian turmoil and potential tapering by the US Federal Reserve, as the reprivatisation remains conditional on market performance. Any intervention in Syria is likely to act as a shock to aggregate supply, with consequences for oil prices, and foreign policy [...]
German factory order growth drops way faster than expected September 5, 2013 Germany factory orders have dropped by 2.6 per cent July, from five per cent growth last month (revised from 3.8 per cent). Analysts had forecast a one per cent fall in orders this month. While the upwards revisions to the last are a positive, that makes for a much bigger drop than expected. Domestic orders [...]
Car registrations up for 18th month ahead of September plate change September 5, 2013 Car registrations are up for the 18th successive month in the UK, according to new data from the SMMT, as the car market grows 10.9 per cent in August. There were only 65,937 vehicles registered this month, as buyers prepare for the plate change in September. That month will typically account for 17 per cent [...]
Dijsselbloem says Greece may need more help September 5, 2013 Eurogroup chairman Jeroen Dijsselbloem has said that Greece may require further help. Dijsselbloem said that he was not going to talk about a new loan, and that debt relief wouldn't be considered by the Eurogroup beofore April 2014. It is clear that despite recent progress, Greece's troubles will not have been resolved by 2014. The [...]
Bank of Japan’s Kuroda puts pressure on PM to increase sales tax September 5, 2013 Bank of Japan governor Haruhiko Kuroda has continued to put pressure on prime minister Shinzo Abe to increase consumption tax, pledging to support the economy with monetary tools. Kuroda said that the Bank of Japan can step in if the tax were to hit growth. Japan is one of the world's most indebted nations, and [...]