The EU Commission revised its 2017 Euro-zone GDP growth forecast marginally higher to 1.6% from 1.5% previously, although this was still lower than the 2016 outcome and the underlying tone remained generally downbeat with a high degree of uncertainty over both domestic and US developments.
The inflation forecast for this year was revised higher to 1.7% from 1.4% previously, but with an expected slowdown to 1.4% in 2018 and still below the ECB target.
Japanese Yen With JPY at a new 34 year low versus EUR, the market is set for an ambush by the Bank of Japan if it acts today at the end of their Policy Meeting to support the Yen. The reason that the market is susceptible is because it has convinced itself that the BoJ […]
Milan, Italy The City of Milan has a late night noise problem and so it has acted unilaterally to resolve it-Italian style. A ban on the sale of take away food including ice cream and pizza after midnight is being imposed to protect the “peace and health of residents.” Here in the UK late night […]
British Pound Reports that the UK may cut its interest rates before the USA cut their interest rates were the final straw this past week for Sterling. A slew of less than helpful inflation, employment and finally retail sales saw GBP weaker , but then the suggestion that with the background of that less than […]