Peter Lundgreen via Caixin| What should be deeply worrying about the growing banking crisis in Italy is the origin of the non-performing loans. One significant sector is retail and wholesale, meaning it’s a widespread problem. A severe banking crisis is a shock for any economy and will, in many cases, hamper economic growth. This is the risk that Italy and the Eurozone are facing.
J. L. Martínez Campuzano (Spanish Banking Association) | The BoJ has begun a period of reflection to try to answer the question of why expansionary monetary measures are not being reflected in higher inflation. I honestly believe that this is a reflection which other central banks should undertake. But, in the end, the easiest thing will always be to continue with more measures without a clear strategy of what their final objectives are.
Eulogio López | Rafael Villaseca, CEO of Gas Natural Fenosa is an industrial engineer and it shows. He has worked for a wide variety of companies: Panrico, Inisel, Nueva Montaña Quijano…And lately he has become a harsh critic not of the renewable energy firms themselves, but of the subsidies they receive.
Fidelity | In line with expectations, the Bank of England’s monetary policy committe voted unanimously to cut interest rates – for the first time since 2009 – by 0.25%. It also announced a package of additional measures, such as an extension of the current quantative easing programme (including corporate bond purchases) and a new liquidity line (Term Funding Scheme).
José A. Santos (Patrivalor) | The value of the 60 Spanish companies listed on the stock market stood at 536.499 billion euros at end-July 2016, down 9.0% from end-2015, Patrivalor says.
J. L. Martínez Campuzano (Spanish Banking Association) | Perhaps one of the most important conclusions of the G20 meeting held in China was the need for monetary and fiscal instruments to fuel demand. But also for reforms to adjust supply and increase growth potential. There is no doubt that every instrument of economic policy is needed in the fight against weak growth and low inflation.
CaixaBank | Everything is ready for the inauguration of the 2016 Olympic Games in Rio de Janeiro on Friday. This is the most important global sporting event and Brazil is the first South American country ever to have hosted the games. But what will the economic impact be for the country which is in recession?
Norbolsa | CaixaBank posted overall solid figures in the first half to 2016, particularly with regard to its net interest margin.
Housing sales in Spain increased by 19.4% year-on-year in June to 36,856 units, the largest figure since January 2013.
Norbolsa | Bankia’s (BKIA) interest margin fell more than expected in the first half of 2016, but the lender’s ability to lower provisions and costs offset this to some extent.