Spanish Banking Association | According to the ECB, Eurozone deposits grew at 5% in March, the fastest recent rate. The growth rates for household and company deposits coincide at 5.7%. The deposits of public authorities grew above 11% in March.
via European Views | The bosses of BMW and Deutsche Telekom have urged the German government to take action to block a European Commission proposal that would set a WiFi-based standard for connected cars. Despite intense lobbying, the European Parliament voted in favor of the WiFi-based technology.
After the surprise increase in GDP in the US in Q119, we have learnt that, according to the preliminary data by Eurostat, the Eurozone economy grew 0.4% in the first three months of the year, doubling the growth rate of 0.2% registered in the fourth quarter of last year, while in the EU as a whole GDP grew 0.5% compared to 0.3% in the previous quarter.
Jonathan Perraton via The Conversation UK | EU leaders have agreed a short extension to Brexit until October 31 at the latest, in order to give the British parliament time to agree a deal. This date avoids the UK still being a member when the next EU budget cycle starts – but what does it mean for the “divorce bill”, the money the UK will pay the EU after its departure?
JP Morgan| Recently, one of the main questions in investors´ minds was whether the weakness which has extended throughout the global manufacturing sector would damage Europe´s domestic economy, which until now has remained relatively solid faced with negative external factors over the last year.
BofA Merrill Lynch | Our base case remains: if data stabilises, the ECB will be keen on hiking at the end of this year. But our conviction level is low (and declining) – similar to the ECB’s. The alternative, we argued, would be no hike this year, a long extension of forward guidance beyond market pricing and tiering.
Evan Brown (UBS AM) | …But as the importance of fiscal policy increases for economic stabilization, uncertainty about its effects also increases.
José Ramón Díez Guijarro (Bankia Estudios) | Fortunately, in the EMU, with the exception of the second half of 2014, when the expected inflation expectations traded by the five year German bond reached negative territory, this deflation risk seems much more contained. This could be the principal difference between the European and Japanese economies.
A posible rise in the tariffs on cars imported into the US from Europe could reduce the profitability of the main carmakers in the European region and force executives to change the the production plants of certain models of vehicles, a report by S&P points out.
Alexandre Mato (Brussels) | At a time when in the US the young Congress woman Alexandria Ocasio-Cortez supports a green New Deal as “an umbrella for a combination of policies and programmes which moves America away from fossil fuels and causes the country to slow the climate crisis”, in the words of Varshini Prakash, co-founder of the Sunrise Movement, an organisation driving this economic policy, the EU is taking firm steps in the ecological transition.