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13/12/2017 - Economists fear that the Bank of Japan’s ultra-low interest rates could hurt banks’ ability to do business if they are kept too long. BOJ Governor Haruhiko Kuroda flagged this possibility when he referred in November to a “reversal rate,” or the level where central bank rate cuts can hurt the economy by squeezing banks’ lending margins to a level where they lose interest in making loans. REUTERS
13/12/2017 - Italian banks are expected to sell non-performing loan portfolios with a gross value of 70 billion euros in 2018, according to a forecast from consultancy PwC. Italian banks are expected to dispose of some 64 billion euros in bad loans this year. RADIOCOR
11/12/2017 - The British Chambers of Commerce (BCC) said it has slightly downgraded its three-year outlook for the UK economy, cutting growth expectations from 1.6% to 1.5% in 2017, from 1.2% to 1.1% in 2018, and from 1.4% to 1.3% in 2019. RADIOCOR
11/12/2017 - China will fully consider the possible impact on banks and markets before finalizing its new asset management rules. China issued draft guidelines last month to tighten rules on the asset management industry, the latest step by Beijing to fend off systemic risks from the country’s rampantly growing shadow banking sector. REUTERS
06/12/2017 - Italian bank loan requests rose 1.9% in November compared to the year earlier, according to data from Italian credit and business information provider CRIF. Requests for home mortgages were instead 20.4% lower. RADIOCOR
06/12/2017 - Italy's leading economic indicator continues to rise, reinforcing short-term growth prospects, statistics agency Istat said in its monthly note on the Italian economy. In a framework of international economic expansion, the growth of the Italian economy also consolidated in November, supported by a rise in capital accumulation, Istat said. RADIOCOR
04/12/2017 - The Senate’s approval moves Republicans and President Donald Trump a big step closer to their goal of slashing taxes in what would be the largest change to U.S. tax laws since the 1980s. The dollar has drawn support on expectations that tax cuts for corporations and the wealthy would stimulate the U.S. economy, and also drive Treasury yields higher, as the government becomes more dependent on debt due to reduced tax income. REUTERS
04/12/2017 - Producer prices in the eurozone in October rose 0.4% from September and increased 2.5% year on year, according to data released by Eurostat, the statistical office of the European Union. In the 28 countries of the EU, PPI increased a monthly 0.4% an annual 2.6%. In September, PPI increased a monthly 0.5% in both zones. RADIOCOR
01/12/2017 - Italy's inflation rate fell to 0.9% in November from 1.0% in December, ISTAT said Thursday. The prices in Italy's inflation trolley of most frequently bought goods rose 1.5% in the year to November, the national statistics agency said. This compared to a 1.7% yearly rise in October. ANSA
01/12/2017 - Prime Minister Shinzo Abe’s top economic advisory panel wants the coming year’s budget to reflect a combination of monetary easing and “growth-oriented” fiscal policy - while at the same time it reins in spending. These seemingly-conflicting goals are contained in a budget outline released on Friday by the Council on Economic and Fiscal Policy (CEFP). REUTERS
29/11/2017 - ISTAT said that Italian consumer and business confidence fell this month. The national statistics agency said its consumer-confidence index for November was down after five consecutive rises due to higher concerns about unemployment and the overall economic situation in Italy. ANSA
29/11/2017 - Italian GDP is expected to rise 1.6% in 2017, 1.5% in 2018 and 1.3% in 2019, according to the latest Economic Outlook of the Organisation for Economic Co-operation and Development. Inflation is seen at 1.4% in 2017, 1.2% in 2018 and 1.4% in 2019, according to OECD. RADIOCOR
24/11/2017 - The average tax-to-GDP ratio in countries making up the Organisation for Economic Cooperation and Development (OECD) rose to 34.3% in 2016 from 34.0% the year earlier, a new OECD report showed. Increasing tax-to-GDP levels were seen in 20 of the 33 OECD countries that provided preliminary data in 2016, while tax-to-GDP levels fell in the remaining 13 countries. RADIOCOR
24/11/2017 - British households are their least confident since immediately after last year’s Brexit vote, partly because of this month’s interest rate hike and further signs of a slowdown in the housing market, a consumer confidence index produced by polling firm YouGov and the Centre for Economics and Business Research showed. REUTERS
22/11/2017 - ISTAT said Tuesday that Italian investment levels are on the up. "Investments are expected to strengthen the recovery both in 2017 (+3.0%) and in 2018 (+3.3%)," the statistics agency said. ANSA
22/11/2017 - Half of Germans are in favor of calling a new election after Chancellor Angela Merkel failed to reach a deal to form a new coalition with two other parties, while a fifth back forming a minority government, an opinion poll showed. The collapse of talks between Merkel’s conservative bloc, the pro-business Free Democrats (FDP) and environmentalist Greens has thrown Germany into political uncertainty and raised the prospect of new elections. REUTERS
15/11/2017 - The European Commission intends to ask Italy to provide more details regarding its draft budgetary plans for 2018, European officials said. The EU executive arm has decided to send a letter to the Italian government ahead of a final decision on the Italian budget in May. RADIOCOR
15/11/2017 - Japan’s economy grew faster than expected in the third quarter due to strong exports, posting the longest period of uninterrupted growth in more than a decade. The economy expanded at a 1.4 percent annualized rate in July-September, slightly above the median estimate for annualized growth of 1.3 percent. That followed revised annualized growth of 2.6 percent in April-June. RADIOCOR
10/11/2017 - Italy's gross domestic product (GDP) will not return to its pre-crisis level until 2021, the CSC research unit of industrial employers' confederation Confindustria said. The CSC said the GDP level in the second quarter of 2017 was 1.8% below that of the equivalent period in 2011 and 6.4% below that of the first quarter of 2008. ANSA
10/11/2017 - The European Commission said the recent series of government bailouts for troubled Italian banks was a positive factor for the country's growth prospects. "The recent government actions to address acute risks in weaker banks could help unclog bank lending and further reduce downside risks, while structural reforms are expected to lift potential growth". ANSA