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Thursday, May 15

14th May - BoE to keep rates low for a year


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EUROPE
Southern Europe is suspicious: the evolution of trust in the EUBruegel

Italy's Berlusconi says he was forced out by EU 'plot'Reuters
Former Italian prime minister Silvio Berlusconi repeated accusations on Wednesday that he had been forced out of office at the height of the euro zone crisis in 2011 as the result of a plot by European Union officials.

Germany is heading straight for slowdown and nobody seems to careTradingFloor

  EUROPEAN PARLIAMENT ELECTIONS
The Ultimate WSJ Guide to European Elections: One, Two, Three … VoteWSJ
Find out when you should start paying attention to European elections. We're giving you timings for first exit polls and what to watch out for in the results of individual countries.

The European Parliament should be stripped of its right to increase the EU budget and veto trade agreementsOpen Europe

The European Parliament elections may be a landmark for Eurosceptics, but the EU’s future direction will be decided elsewhereEuropp / LSE

  BANK OF ENGLAND
Inflation Report May 2014 – BOE
BoE Inflation Report: not supporting the hawkish case at first blush – TradingFloor
Live blog: The BOE’s quarterly inflation report – FT
BOE’s Inflation Report in five key charts – FT
BOE sticks to its view and analysts, some defiantly, stick to theirs – Reuters
BOE Looks Into the Future – WSJ
BOE stresses no rush to raise rates as recovery builds – Reuters
[video] Carney damps down rate rise talk – FT
Strategists Settle on 2015 U.K. Rate Hike – WSJ

  EUROPEAN CENTRAL BANK
Europe’s Endemic Deflation ProblemWSJ

Markets expect June action from the ECBSober Look

ECB readies package of rate cuts and targeted measuresReuters
ECB is preparing a package of policy options for its June meeting, including cuts in all its interest rates and targeted measures aimed at boosting lending to small- and mid-sized firms (SMEs).

Time for Mario Draghi to open the sluiceThe Irish Times
Martin Wolf: The recovery in confidence is too fragile, and the revival of growth too feeble

No QE Coming From The ECBZH

Yves Mersch: "ECB in between state rescue and monetary policy" – ECB
Yves Mersch: Powering into the future – Germany and EuropeECB
ECB Mersch Sees Court Approval for OMT – WSJ
Pentti Hakkarainen: The common banking supervision - what it is about? – BIS

  MACRO NUMBERS
Industrial production down by 0.3% in euro area – Eurostat
Euro area industrial production ends Q1 on weak note – TradingFloor
EZ industry output unexpectedly falls in March as energy production slumps – Reuters
UK labour market powers on in April – TradingFloor

UNITED STATES
10Y Treasury Yield Breaks Key Support ZH

Producer price gain offers cautionary note on inflationReuters

ASIA
China growth target vulnerable as economy's momentum fadesReuters
China might miss its economic growth target for the first time in 15 years as data points to a sharper-than-expected loss of momentum and top leaders are talking about a "new normal" of slower growth.

OTHER
Global Business Cycle MonitorDanske Bank
Signs of reacceleration in global growth

Macro HorizonsWSJ
An Utter Absence of Inflation in the Industrialized World

Grand CentralWSJ
Hilsenrath’s Take: ECB’s Draghi Emerging as a Savvy Consensus Builder * Lacker: Fed Should Limit Emergency Lending Powers * IMF Chief Warns That Low Inflation Poses Risk to Global Economy * BOJ Confident Inflation Will Stay Above 1% * China Central Bank Prods Lenders on Mortgages

Fund Managers' Current Asset Allocation – MayThe Fat Pitch
2 The Fat Pitch by Urban Carmel  /  19h  //  keep unread  //  hide  //  preview
http://fat-pitch.blogspot.com/2014/05/fund-managers-current-asset-allocation.html

FINNISH
Ekonomisti: EKP ajaa Suomea taantumaan – keskuspankin uskottavuus vaarassaVerkkouutiset

Nordeassa arvellaan saksalaisten rivien tutisevanVerkkouutiset

Suomesta tuli oman vientinsä suurrahoittajaTE

Suuri sanoo pieni anooLaura Huhtasaari / US
"Suuret maat päättävät siitä millaiseksi euroalue kehittyy. Yksittäinen jäsenmaa päättää, mitä se on valmis hyväksymään. ”

Näin näppärästi EU-johtajat savustivat ulos hankalaksi käyneen Kreikan pääministerinTE
FT: Kreikan kansanäänestys peruttiin – ”olisi merkinnyt euron loppua”PS
EU-virkamiehet valitsevat jäsenvaltioiden johtajatJuhani Huopainen / US

Pääministerimme ei ymmärrä talouskuplaaHenri Myllyniemi / US

Vähittäiskaupan myynti laski maaliskuussa 1,5 prosenttia vuodentakaisesta – Tilastokeskus
Vähittäiskauppa jatkuu heikkona – Roger Wessman
Inflaatio pysyi huhtikuussa 1,1 prosentissa – Tilastokeskus