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
Sterling No sooner had the financial press written that Sterling was on the skids due to the Chancellor being on the way out, than PM Starmer woke up to the need for some TLC for his beleaguered Chancellor and executed a handbrake turn to administer some gruesome bedside cheer to the apparently on life support […]
EU Inflation With the ECB annual symposium meeting in sunny Sintra, Portugal, inflation is very much on President Lagarde’s mind ; that is because it is showing signs of rising with the monthly inflation rate showing an increase of 0.3% and that presages a break above the target 2% rate just as she and her colleagues […]
Gold With Gold accounting for the second highest proportion of Central Bank reserves after the USD and the mood music shifting to it assuming a greater influence on future reserves management, it is worth looking at the numbers behind that. In the 1960s, Central Banks held the highest amount historically of 38,000 tons of gold. […]