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The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.
Spanish mortgages market

Spanish economy 30th March 2022

The Average Spanish Mortgage: 141,000 Euros, 24 Years And 70% At A Fixed Rate (2.69%)

The number of mortgages taken out on homes increased by 29.4% last January compared with the same month of 2021, to 36,185 loans. However, despite exceeding the figure of a year earlier, the volume of homes mortgaged in January this year has remained below the more than 40,000 that were signed in January 2020, before the pandemic. According to data released on Monday by the National Institute of Statistics (INE),…

ECB bonds

European economy 30th March 2022

The Capital Plans The ECB Will Require Banks Due To The War In Ukraine is not To Harm Dividends

Renta 4 | The ECB plans to require banks to include the effects of the war in Ukraine in the internal capital adequacy assessment process as it is dragging on longer than expected. The ECB wants banks to include analyses of various scenarios on the impact of second-round derivatives as a result of the war, such as downward revision of economic growth. Opinion: We consider the ECB’s request to be…

housing sales

Relevant News Item 29th March 2022

The Government Limits Rent Rises To 2% Until 30 June

Amongst the measures to be approved today by the Council of Ministers, Prime Minister Pedro Sánchez has included limiting rent rises to 2%. This is against a backdrop of when, in February for example, the CPI rose by 7.6%, according to the INE. This will be a temporary measure, in principle in force until June, and will differentiate between large and small landlords. If the landlord is a “large landlord”…

Government

Spanish economy 29th March 2022

Sánchez Puts The Cost Of The War Response Plan To Be Approved By The Government Tuesday At 16 Billion Euros

Prime Minister Pedro Sánchez yesterday outlined the main lines of the Shock War Response Plan to be approved today by the Council of Ministers. The plan contains measures until 30 June aimed at cushioning the impact of the crisis on families and businesses. The plan is worth 16 billion euros: 6 billion euros in direct aid and tax reductions, and 10 billion in ICO credits. It has five main pillars:…

Black Spanish olives could lose practically the entire US market

European economy 29th March 2022

Total European Olive Oil Sector Production Could Rise +7% Compared To 2021

Intermoney | Italy starts the spring season affected by drought in the northern part of the country and higher than expected temperatures during the winter months. Authorities estimate a water deficit between 50%-90% compared to 2021, with particular declines in the Piedmont and Veneto regions. The Po river has suffered falls of more than three meters in certain points, which, together with the distortion caused by the unseasonal heat to…

spain tax collection

Spanish economy 28th March 2022

Spain: The Maximum Personal Income Tax Rate Now Exceeds 50% In Three Autonomous Communities

The maximum marginal rate of Personal Income Tax (IRPF) now exceeds 50% in three autonomous communities: Valencia (54%), Navarra (52%) and La Rioja (51.5%), which impose a tax on high incomes that exceeds half of the income. And four others have a tax rate of 50%: Asturias (50%), Cantabria (50%), Canary Islands (50.5%), Catalonia (50%), In contrast, the Community of Madrid has established the lowest regional tax bracket in Spain….

LNG regasification ship

Spanish economy 28th March 2022

Capping Gas Prices Only Delivers Short-Term Respite

J.P. Marín-Arrese | PM Pedro Sánchez bet hard in the recent EU Summit when he pressed for an overhaul of the current marginal cost pricing in the electricity sector. While missing his goal, and rebuked by Germany and Holland, he was given as a consolation prize the promise that Spain and Portugal could cap electricity gas prices on a temporary basis, subject to final scrutiny by Brussels. Decoupling the most…

Banco Santander

Spanish economy 28th March 2022

Santander Creates A Platform To Invest In Renewable Energies Called Santander Green Investment

Banco Santander has created a company to acquire and invest in renewable energy projects in Spain that are in the development and construction phase, called Santander Green Investment, announced last week.Through the new platform, the entity will take equity stakes in renewable energy companies. So far, Santander has acquired stakes in nine solar photovoltaic and wind power projects in Spain from different developers. The total capacity is approximately 500 megawatts,…

Japanese general

World economy 25th March 2022

BoJ: Sharp Yen Depreciation Adding Pressure To Revise Self-Defeating Policy

Alicia García Herrero (Natixis) | As the Yen rapidly depreciates above USDJPY=120, the unintended consequences of the Bank of Japan (BoJ)’s Yield Curve Control (YCC) has become increasingly apparent. Last month, the BoJ announced it would intervene in the JGB market to protect the 0.25% ceiling on the 10-year JGB yields as they were being pushed up by higher US Treasury yields. Furthermore, after the Fed began to tighten last…

Cereals

European economy 25th March 2022

War In Ukraine Does Not Jeopardize Wheat Supply In Europe: EU Has Its Own Granary

Ángel Luis González Esteban (The Conversation) | The Russian invasion of Ukraine has raised fears about the supply and prices of wheat, an essential foodstuff for millions of people. Numerous headlines have echoed the international escalation of prices, while popularizing the expression the breadbasket of Europe to refer to Russia and Ukraine. Will there be enough wheat for everyone? It is somewhat ironic to ask this question in the European…