mynameisandhy Posted November 14, 2013 Author Report Share Posted November 14, 2013 News and Review of European Economic Zone (Italy) Softened Italian recession in Q3 Thursday, November 14, 2013 Long recession that is upon the Italian economy began to soften in the 3rd quarter of 2013 as GDP contracted only 0.1% compared to the previous 3-month period, following an increase in the expansion of the industrial sector, according to early estimates Thursday statistical institute Istat. While the annual rate, GDP Italy for the period from June to September contracted 1.9% from the same period in 2012. Both growth data, both quarterly and annually, in line with economists' predictions before. If confirmed, this would complement GDP figures contraction phase of the 3rd largest economy euro zone for 9 consecutive quarters. Although the shrinkage that occurs is the lightest since the fall of 2011, according to Istat. Istat explained that the depreciation of the service sector and agriculture are still going on in Italy during the period June-September start offset by the overall growth of the industrial sector is shown. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted November 15, 2013 Author Report Share Posted November 15, 2013 News and Review of European Economic Zone Euro Zone Inflation Slows to Lowest Level 4 - Year Friday, November 15, 2013 The annual inflation rate in the 17 countries that use the euro sank to its lowest level since November 2009 , which added to concerns that the bloc 's economy will go back into the dark phase and prolonged price decline . The slowdown largely reflects a decrease in the cost of fuel in the country following the oil price in the international market is lower. Final estimate of the European Union's statistics agency , Eurostat , confirm that the euro zone consumer price inflation grew at an annualized pace of 0.7 % in October . Previously , the initial estimate released by Eurostat last October 31 has forced the European Central Bank to respond by cutting its benchmark interest rate to a new record low of 0.25 % . The latest figures also show that the slowdown in the rate of inflation has been a problem for most countries in Europe . Eurostat report showed four EU member states such as Greece , Bulgaria , Cyprus and Ireland have experienced deflation in October . Only 2 countries have inflation target of 2.0 % approaching the central bank , namely Estonia and the UK . Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted November 15, 2013 Author Report Share Posted November 15, 2013 News and Review of European Economic Zone (Ireland) Irish Will Exit Bailout Program Without Financial Aid Friday, November 15, 2013 Ireland will come out of next month 's bailout program without financial aid from its European partners . " It 's the right thing . This will be the last step for Ireland to return to the economic conditions , budget , and funding normal . Though the journey is still long , but the Irish are on the right track , " said the Prime Minister of Ireland , Enda Kenny . Ireland already has sufficient funding for 2015 so this makes more optimistic Kenny Ireland welcomed the release of the bailout program . Ireland will be the first euro - zone country that came out of the bailout program drawn up by the IMF , the ECB , and the European Commission . Greece , Portugal , Cyprus , and Spain is still undergoing bailout program and it is unclear whether they can get out of the program when the time comes . Ireland has received final disbursement of bailout last week so its bailout program expires at the end of 2013 . ECB president , Mario Draghi , has uttered that Ireland seek financial assistance in case ; however the European Commission Olli Rehn uttered it may not be necessary . Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted November 15, 2013 Author Report Share Posted November 15, 2013 News and Review of European Economic Zone (Greece) Greece Not Want More Savings Policy Friday, November 15, 2013 Finance Minister Yannis Stournaras said Greece would not be pursuing a policy of further savings . The Greek Finance Minister 's comments indicate reluctance intimated Athens for Greece to meet the increasing demand Eurogroup reform efforts in order to secure the next disbursement of bailout funds . " The addition of austerity policies are not necessary . 's Too dangerous . We are willing to take the structural policies that have an impact on fiscal policy , but no additional austerity measures , " said Stournaras told CNBC . " Greece has made a lot of progress and people have sacrificed too much . We have to be very careful of the kind of policies that we can run to cover budget shortfalls . " Greek troika shortage predicted to reach € 2 billion budget surplus target of 1.5 % of GDP for 2014. However , the Greek government believes lack of funding only reached € 500 million . " There are differences in the estimated funding shortfall . We are negotiating it . We will reach the target and the government budget is credible enough , " said Stournaras . Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted November 18, 2013 Author Report Share Posted November 18, 2013 News and Review of European Economic Zone European stocks edge up Monday, November 18, 2013 European stocks rose on Monday terkerek sustained positive corporate earnings reports while the dollar turned weaker against the euro and the Japanese yen as the wait -and-see attitude of investors menejlang release key data for clues to the Federal Reserve's monetary policy . So far the London FTSE index rose 00:46 % at 6,714.50 , while Germany's DAX soared 0:59 % 9.229.5 traded so far . While the movement of the U.S. stock index futures also still indicate the opening session of Wall Street is positive . Corporate earnings reports , such as Aberdeen Asset Management rose sharply after reporting earnings results were positive throughout the year and the rumored acquisition of Scottish Widows investment Partnership Lloyds Banking Group . Besides IPOs European Aeronautic Defence & Space Co. also jumped after the company reported an increase in commercial aircraft orders A380 superjumbo at Dubai Airshow exhibition . The next focus will be on the German ZEW economic sentiment report which will be released on Tuesday followed the FOMC meeting minutes results in October which will be released Wednesday for clues to the Fed's stimulus tapering . Various analysts expect there are discussions that can provide clarity on the Fed's future policies , such as lowering its benchmark rate below 6.5 % unemployment , especially after Janet Yellen last week's testimony . Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted November 18, 2013 Author Report Share Posted November 18, 2013 News and Review of European Economic Zone (France) French Shortage € 5.5 Billion Tax Revenue Monday , 18 November 2013 French Budget Minister , Bernard Cazeneuve , saying weak economic growth has caused the lack of tax revenues worth € 5.5 billion for 2013 . "There is a lack of € 1 billion of value added tax revenues and € 4 billion of corporate tax revenues are highly sensitive to the economic cycle , " said Cazeneuve when interviewed by BFM television . Cazeneuve please re also the availability of income tax revenue shortfall of € 500 million . Cazeneuve said that the government continues to struggle to fight pengemplangan lease and intends to get € 2 billion in 2014 for tax evasion cases . French economy back contraction in the third quarter 2013 after rising tax burden and reduce the purchasing power of intention enterprise konsomen France for further expansion . Lack of tax revenue that the government would sinyalkan should still pursue policy reforms to drive economic activity in the middle of the momentum vulnerable euro- zone economic growth and global . Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted November 18, 2013 Author Report Share Posted November 18, 2013 News and Review of European Economic Zone Eurozone Current Account surplus narrows Monday, November 18, 2013 European Central Bank released data on Euro zone current account surplus in September after rising in August. Surplus in September amounted to € 13.7 billion, from earlier in August amounted to € 17.9 billion. Merchandise trade surplus also narrowed to € 13.7 billion in September compared with € 14.7 billion in August. Surplus in the services sector also narrowed to € 7.6 billion. But the data still showed euro zone exports are still higher than the import. Weak inflation and high unemployment rate remain the overload region. Euro zone unemployment rate of 12.2%, while annual inflation in October is only 0.7%, well below the ECB's target of 2% in the short term. The ECB then respond to the slowdown in inflation by cutting interest rates to a record low of 0.25%. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted November 19, 2013 Author Report Share Posted November 19, 2013 News and Review of European Economic Zone ZEW Data Press Euro Tuesday, November 19, 2013 The euro turned lower against the dollar after German economic sentiment data and Eurozone released . The ZEW Center for European Economic Research said its index of German economic confidence for the next six months rose to 54.6 in November from October's 52.8 . The report also higher than economists' forecasts for 54.0 . But the ZEW index of German economic conditions currently down in two consecutive months to 28.7 , from the previous month at 29.7 . The same thing happened in the Eurozone , the economic sentiment for the next six months rose 1.1 points to 60.2 , but this time for sentiment fell 0.7 points to -61.6 . ZEW economist Michael Schroeder , said the steps the European Central Bank cut interest rates earlier this month boosted investor sentiment but lower its current state , a result of these cuts is seen as a signal of the current economic conditions even worse than previously thought . EURUSD is currently trading at around 1.3495 1.3542 away from daily highs . Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted November 19, 2013 Author Report Share Posted November 19, 2013 News and Review of European Economic Zone (Germany) German Economic Confidence Highest Level Up to 4 Years Tuesday, November 19, 2013 German investor sentiment in November rose to the highest level since October 2009, and above economists' forecasts. The ZEW Center for European Economic Research said its index of German economic confidence rose to 54.6 from October's 52.8. The report also higher than economists' forecasts for 54.0. The figures measure investor sentiment toward the German economy in the next six months. ZEW index of German economic conditions currently down in two consecutive months to 28.7, from the previous month at 29.7. ZEW economist Michael Schroeder, said the steps the European Central Bank cut interest rates earlier this month boosted investor sentiment but lower its current state, a result of these cuts is seen as a signal of the current economic conditions even worse than previously thought. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted November 19, 2013 Author Report Share Posted November 19, 2013 News and Review of European Economic Zone Nowotny Warns Euro Zone Inflation Danger Tuesday, November 19, 2013 Ewald Nowotny , a member of the European Central Bank , said the euro zone inflation clearly below the level desired by the ECB which is defined as price stability . "The rate of inflation clearly below the level of price stability that we have set. ECB inflation target in the medium term by 2 % , while the inflation data in October by 0.7 % . Nowotny is also the leader of the National Australia Bank said the economic situation in Europe , particularly the euro zone began to increase . However, an increase in the euro zone economy is not as strong as expected some time ago . The region's economy grew only 0.1 % in the third quarter , dashing hopes will speed economic recovery from the longest recession in history . Earlier this month the ECB surprised markets by cutting interest rates to 0.25 % due to slowing inflation . Markets now see if there is a chance the ECB will cut interest rates to near 0 % . Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted November 20, 2013 Author Report Share Posted November 20, 2013 News and Review of European Economic Zone (Switzerland) Euro Zone Optimism Boosts Outlook Recovery Economic Switzerland Wednesday, November 20, 2013 Swiss economic expectations index hit a 3 ½ - year highs in November , amid growing optimism among financial analysts and investors that the worst phase of the 17 - nation bloc crisis has passed . Survey results and Credit Suisse ZEW Institute Group released Wednesday showed the index of investor and analyst expectations rose to 31.6 in November from 24.9 in October . Positive numbers reflect if the number of respondents who expect an increase in the economic outlook that expects more than vice versa . November 's results also complement a series of indicators rise 5 consecutive months , and in line with a similar survey conducted in the German ZEW , Switzerland's biggest export market . "Expectations of the economy for the next 6 months has been helped by optimism over the latest economic conditions in the Euro zone , with 41.4 % of respondents expect economic improvement Switzerland and 65 % in the euro zone , " said Credit Suisse . Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted November 20, 2013 Author Report Share Posted November 20, 2013 News and Review of European Economic Zone (UK) BoE officials Dubious Strength Restoration England Wednesday, November 20, 2013 The Bank of England policy makers expressed concern about the strength of economic recovery in the UK 's policy meeting earlier this month , while highlighting the risk of problems in the Euro zone and cut consumer spending . Minutes of the Monetary Policy Committee meeting on November 6-7 and then indicate if policy makers see the uncertainty endurance recovery , although since January, the British economy continued to show a stronger performance than expectations . Potential for continued economic pressures in the euro zone , Britain's main trading partner , the biggest threat to economic recovery . Similarly, the expectation that household spending should press to pay debts . BoE officials also underlined the potential factors that promote growth , such as investment prospects of companies are starting to upgrade equipment and expand the reach of their operations after years of restraint . Minutes released Wednesday also showed nine MPC members unanimously agreed to maintain the key interest rate at a record low of 0.5 % and the asset purchase target of £ 375 billion . Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted November 20, 2013 Author Report Share Posted November 20, 2013 News and Review of European Economic Zone The ZEW report Supporting Appreciation Euro Wednesday, November 20, 2013 The euro soared to three-week highs versus the U.S. dollar after the report ZEW Center for European Economic Research showed investor and analyst sentiment index of Germany rose to 54.6 in November from 52.8 in the previous month. Which exceeded expectations and the 54.0 was the highest level since October 2009. The euro was also helped by comments from ECB Executive Board member, Joerg Asmussen, who said that the central bank should be "very cautious" in using a negative interest rate options to address the slowdown in inflation. "There is suspicion that the ECB may be preparing to do something aggressive, like QE or the application of negative interest rates. However some comments from ECB officials appear to have curb speculation," said Geoffrey Yu, a senior forex analyst at UBS AG in London. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted November 21, 2013 Author Report Share Posted November 21, 2013 News and Review of European Economic Zone German Manufacturing Recovers , France The hobbled Thursday, November 21, 2013 2 Data from the euro zone's largest economy released on Thursday showed differences in the direction of growth of Germany and France , with the index of manufacturing activity in November for the 2nd state equally broke economists' expectations . Markit Economics report showed German manufacturing PMI rose to a 29 - month to 52.5 in November , exceeding expectations of 51.0 . While in France , the same index actually getting away from the expansion level plummeted to a 6 - month to 47.8 . That nullifies the estimated increase to 49.5 . Level 50 is a level of separation between expansion and contraction . " Although it is still above the levels seen in the first half of this year , PMI data released today increasingly emphasized the risks to the French back into recession . Especially after 3rd quarter GDP shrank 0.1 % , " said Jack Kennedy , economist Markit senior . Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted November 21, 2013 Author Report Share Posted November 21, 2013 News and Review of European Economic Zone Euro Maintain reprieve Before Draghi 's speech Thursday, November 21, 2013 The euro is still at a low level after declining the most in three weeks as investors weighed speculation on more stimulus measures from the European Central Bank Mario Draghi's speech before today . The 17 -nation eurozone sustain losses from yesterday against most major currencies after the two people who knew about the debate said that the ECB considering negative bungda tribe . Data today may show an increase in the service and manufacturing sectors in the region . The yen slid against most currencies before the Bank of Japan gave the conclusion of a two-day meeting . The Australian dollar is still at a low level before reports that may show on manufacture in China may be slowing . " Interest rates and some discussion in some action as quantitative measures or interest rates , has made the euro weakened , " said Greg Gibbs , currency strategist at Royal Bank of Scotland Group Plc . " The level of trust in the euro zone in general began to slightly decrease . " Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted November 22, 2013 Author Report Share Posted November 22, 2013 News and Review of European Economic Zone (Germany) Ifo: Sales Expectations Supporting German Business Sentiment Friday, November 22, 2013 German business sentiment showed a sharp rebound in November as rising expectations of sales across the sector, based on a survey of around 7,000 companies. Which signaled that increased activity in the eurozone's largest economy by the end of the year has the potential to continue until 2014. Index released Ifo business confidence rose by 1.9 points to 109.3 in November from 107.4 in September. The figure surpassed the expectations of a rise to 107.7 from economists. Along with an impressive PMI data released on Thursday, Ifo survey is expected to be able to relieve the anxiety that German economic growth will slow until early next year. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted November 22, 2013 Author Report Share Posted November 22, 2013 News and Review of European Economic Zone (Germany) German Economic Growth in Domestic Demand Supports Friday, November 22, 2013 German economic growth is exclusively driven by domestic demand in the third quarter on investment and construction that offset weak exports . Capital investment rose by 1.6 % from three months ago to June and construction rose 2.4 % , according to a report in the National Bureau of Statististik Wiesbaden today . Expansion in GDP slowed to 0.3 % from 0.7 % in the previous three months , they said , to reinforce estimate on November 14 . Germany rely more on the domestic economy as the euro zone , which is the largest export destination , is struggling to keep the nascent recovery . Growth in the eurozone almost stalled in the third quarter , as the French economy unexpectedly shrank and Italy extend the recession . " The German economy has entered a period of slowdown but is in a stable growth path , " said Jens Kramer , an ekonon at NordLB in Hanover . " This is what distinguishes the German economy with other countries in the euro zone . " German GDP grew 0.6 % from a year ago when adjusted for working days , the show in a report today . The level of government spending rose by 0.5 % from the previous quarter and private consumption rose 0.1 % . Total domestic demand added 0.7 % to GDP , while net trade reduces to about 0.4 % of GDP . Exports rose 0.1%, while imports rose 0.8 % . Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted November 22, 2013 Author Report Share Posted November 22, 2013 News and Review of European Economic Zone Eurozone Consumer Confidence Down in November Friday, November 22, 2013 Eurozone consumer confidence became more pessimistic for the month of November, the first decline in a year , which adds to fears of weakening growth in the region continuity . The European Commission said the initial estimate of consumer confidence for November fell to -15.4 from -14.5 in October . Before the downturn, continued to increase the level of trust started in December 2012 , reflecting the fiscal crisis of consumer confidence and banks in 17 countries in berlahan has passed . Euro zone economy began to grow in the second quarter of this year after the contract during the previous six quarters , but in the third quarter the economy was slowing down , while the unemployment rate again touched a new record high , which again undermine consumer confidence . Decrease the confidence level signaling consumer spending will not rise significantly in the coming months , slowing economic growth , and inflation rates will be kept low . Release of the consumer confidence level data following the data release business activity in both manufacturing and services weakened the Euro zone , and the GDP data released also slowed in the previous week . Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted November 25, 2013 Author Report Share Posted November 25, 2013 News and Review of European Economic Zone (Italy) Italian President Berlusconi To Not Give Forgiveness Monday, November 25, 2013 Italian President Silvio Berlusconi rejected the request to forgive over tax evasion sentence . President Giorgio Napolitano, Berlusconi had to use the express lanes within the law if you want to protest a decision this week that will probably put out Berlusconi from the Italian parliament . August, Berlusconi was sentenced to 4 years , and community service for a year . Wednesday , the Italian Senate will conduct a vote to decide whether Berlusconi should be expelled from parliament after tax scandal . The survey showed Berlusconi may be expelled from parliament and given the Democratic Party a 5-Star Movement wants it . Both parties have a majority in the Senate . Although Berlusconi predicted his party would withdraw support from the coalition government if removed from the Senate ; Enrico Letta , but the Prime Minister is expected to be maintained given the coalition the support of some party officials led by Berlusconi . Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted November 25, 2013 Author Report Share Posted November 25, 2013 News and Review of European Economic Zone ECB 's Hansson : Trimming Option Interest Rate Still Not Closed Monday, November 25, 2013 Board Member of the European Central Bank's policy Ardo Hansson said the ECB was ready to cut rates further bugna and technically ready to make savings interest rates in negative territory . " Option rate cut is still not fully closed and there are other policies which may also be an option , " Hansson said in an interview with Tallinn . " Certainly , each using one of the options , the options will be reduced by one . But I think we're going to run out of policy tools . " The ECB is trying to cope with the slowdown in inflation that threatens the recovery of the euro zone , cut interest rates 0.25 % to a record low of 0:25 % this month . Bloomberg News reports last week said that the ECB is considering trimming less on savings interest rates are currently at levels of 0 % to 0.1 % if it needs more stimulus . " Technically we are ready " to cut deposit rates , said Hansson , who is also the central bank governor of Estonia . " Usually we cut by 25 basis points shingga I have to see some analysis of other options . In theory , pruning smaller still be an option . But it is definitely , greater steps are taken , the impact of which will appear larger as well . " Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted November 25, 2013 Author Report Share Posted November 25, 2013 News and Review of European Economic Zone ECB 's Noyer : Interest Rates Should Stay Low Monday, November 25, 2013 Policy Council member Christian Noyer of the European Central Bank on Monday said that interest rates remain low haris for longer periods of time and may be re- trimmed also needed as ECB officials tried to ensure that the euro zone does not fall into deflation . The central bank officials should create a policy to achieve price stability when conventional monetary policy has been not powerful , Noyer said , indicating that the CEB will remain open opportunities rate cuts after inflation unexpectedly slowed . " We see the risk of a low inflation rate for the time being , " Noyer said at a conference in Tokyo . " We will keep interest rates low for a longer time , or that is lower if needed to stabilize prices . " ECB executive board member Benoit Coeure said disinflation in Europe are likely to continue for the time being , but will not lead to deflation as the economy is recovering and inflation expectations under control around 2 % . Slowing the rate of inflation in the euro zone triggering the ECB to cut interest rates to a record low this month 0:25 % . Minorities in the ECB oppose this move , causing concern to members of the ECB's disintegration . With interest rates near zero , there is also concern about whether the ECB has enough ammunition to counter slowing price . The mandate of the ECB is to keep inflation close to but below 2 % . The central bank loosened policy to prevent slowing inflation rate lowers inflation expectations , said Noyer said. Trimming wages in a number of European countries recently welcomed to kompetitifitas , because it helps reverse trend in which wages rise too sharply , he said . At the same time , the ECB does not want inflation to be too low , as this could damage the stability of prices , Noyer said . Coeure said that the European economy was stable and the banking sector is being strengthened , but government officials have to make progress with structural reforms to lower the unemployment rate and business investment trigger . With euro zone inflation is at 0.7 % , well below the ECB's target , the central bank officials have recently said that they are open to take new measures to prevent deflationary pressures worsen the economic outlook . Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted November 26, 2013 Author Report Share Posted November 26, 2013 News and Review of European Economic Zone (Italy) Italian Consumer Confidence Rises Tuesday, November 26, 2013 Italian consumer confidence shows some improvement in November , with increasing optimsime over exports and strengthening domestic expectations on their financial condition , based on statistical institute Istat Tuesday . Istat report showed Italian consumer confidence index rose to 98.3 in November from 97.3 in October , in part to cut a sharp decline from 100.8 recorded in September . Figures in November also surpassed the expectations of 97.5 . Households' expectations of their financial condition is also recorded an increase to 101.1 from 98.1 last month . While the overall economy is expected to worsen to 91.6 this month from 93.1 in October . The Italian government has promised to abolish the tax shelter unpopular , which would represent a levy revenues of € 2.4 billion in December . With the rate of home ownership in Italy which exceeds 80 % , such a tax would bring a blow to most of the population that does not work . Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted November 26, 2013 Author Report Share Posted November 26, 2013 News and Review of European Economic Zone (Ireland) The Irish Labour Sector Solid Tuesday, November 26, 2013 The number of Irish people who worked to increase on a yearly basis for 4 consecutive quarters , according to official data released Tuesday . Reinforce expectations that the government over the sustainability of economic recovery . Throughout the period of July through the end of September , the number of people employed increased by 58,000 or 3.2 % from the same period in 2012 , according to the Central Statistics Office . It was the biggest growth since before the start of Ireland's debt crisis by the end of 2007 . Full-time jobs showed strong improvement in agriculture , hospitality and technical , as the decline in the sector of public services , administration and transportation . Previous coalition government has committed to boost exports to promote economic growth and meet its fiscal targets , which will help the country out of the international bailout program in 2010 in the coming weeks . And job growth has added to the evidence if the country finally began to recover after the crisis hit the banking and property . On the same occasion the CSO also revised projections for the unemployment rate to 12.6 % in October from the previous 13.2 % , compared with the peak level of 15.1 % recorded in February last year . Based on the 2014 budget report released by the government last month , the unemployment rate in Ireland predicted to persist at high levels over the next few years . Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted November 26, 2013 Author Report Share Posted November 26, 2013 News and Review of European Economic Zone (UK) Carney : Bank of England Do not rush Raise Interest Rates Tuesday, November 26, 2013 The Bank of England will not be in a hurry to raise interest rates even after the unemployment rate fell to 7 % which has been set as the limit to consider tightening monetary policy , BoE Governor Mark Carney said on Tuesday . " 7 % is a limit , not a trigger , ' he said to the Treasury Committee in parliament . Carney , responding to a question from one of the officials , saying " so do not make sense " to say that the new policy guidance BoE interest rate has been ineffective from the start . BoE take steps to fix the economy is a new approach in the current month of August said it would not consider raising interest rates from a record low until unemployment fell to 7 % English . Since then , the unemployment rate has dropped faster than had been expected BoE - reaching 7.6 % in the three months to September to raise questions about the duration of the BoE interest rate pledge . Most economists polled by Reuters had said way of handling instructions interest rates have hurt the credibility of the central bank . In his comments to the government on Tuesday , Carney repeated his view that financial markets will anticipate higher interest rates sooner if the BoE does not announce its interest rate guidance framework . Carney and other BoE officials earlier stressed that the level of 7 % is not automatically trigger a rate hike . Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted November 27, 2013 Author Report Share Posted November 27, 2013 News and Review of European Economic Zone (Germany) Germany Successfully Forming Coalition Government Wednesday, November 27, 2013 Largest political parties in Germany on Wednesday reached an agreement to form a coalition government led by Chancellor Angela Merkel . After holding negotiations for 17 hours , the conservative party of Merkel's Christian Democratic Union leader , the Bavarian Christian Social Union and the Social Democrats also agreed to launch a national minimum wage and strengthening of labor market regulation , and increase the allocation of funds for retirement , education and infrastructure . Nevertheless the coalition deal still has to face the challenge of an unusual letter referendum , which provides the opportunity for about 470,000 members of the left -leaning Social Democrats voting for the approval of the coalition agreement . Approval of the agreement in a referendum , which will be announced on December 14 , will lift some economic and social issues that potentially ' disruptive ' German coalition government . Quote Link to comment Share on other sites More sharing options...
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