- Asset management, in June the collection returns positive
The month of June closed with a balance of 1.45 billion thanks to the recovery in flows in funds (+2.2 billion from -2.2 billion in May) due to lower pressures on bank funding after the ECB's announcements. Management are negative (-759 million). The total assets signed a record of 2.195 bn even thanks to the market effect.
- IMF, Italian GDP + 0.1% in 2019, 2020 is uncertain
The IMF confirms the estimates for Italy for 2019, when GDP is expected to grow by 0.1%. Those for 2020 were slightly lowered: growth will stop at + 0.8%, or 0.1 percentage points less than the + 0.9% estimated in April.
- Fed: Mnuchin, low inflation, yes to cut rates
The US Secretary of the Treasury, Steven Mnuchin, did not want to say too much about the decisions that the Federal Reserve will announce next July 31, but he repeated that "inflation is low" and this justifies a rate cut that the president Donald Trump has been asking since last year.
- Usa: agreement almost made between White House and Congress leader on debt ceiling
The White House and the congressional leader have almost reached a budget agreement that calls for a two-year raising of the debt ceiling. To avoid what would technically be a default, you need to raise the debt ceiling, which is the limit beyond which Washington cannot issue new debt.
- Consumption down, towards -0.4%
The trade crisis has never ended: after the weak recovery in the past few years, household spending has come back to a halt, and if there is no trend reversal, 2019 will close with a 0.4% drop in sales, over one billion euros less than in 2018: the worst result in the last 4 years. It is the estimate of Confesercenti.
- Banks: ECB, more restrictive standard for companies loans
In the 2nd quarter of 2019, the Eurozone banking institutions tightened their criteria for approving loan applications from companies. Those for loans to families, on the other hand, remained almost unchanged. It is revealed by the ECB.