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EUROPE
The
eurozone’s low inflation problem – FT
Finance
Ministry: Don’t Expect More Reforms From Modi Just Yet – WSJ
Greek
Confidence Vote is No Game Changer – Marc
to Market
EUROPEAN CENTRAL BANK
Draghi
pledged anew to loosen monetary policy more if needed and called on those
governments with the room to ease fiscal policy to do so. By contrast,
Schaeuble warned against U.S.-style quantitative easing and urged continued
budgetary discipline.
ECB to
disclose final results of comprehensive assessment – ECB
Comprehensive
assessment results to be published on 26 October 2014, at 12 noon CET.
UNITED STATES
When
Will the FOMC Tighten the Fed Funds Rate? – Aleph
blog
It is more
likely that the FOMC moves later than the third quarter of 2015 versus earlier
than then. The FOMC has been slow to
remove policy accommodation; it is more likely that they will remain slow given
present economic conditions.
OTHER
Daily
Central Banks – WSJ
Douglas’s Take: Markets Push BOE Hike out
to Summer 2015 * ECB’s Draghi Pledges Inflation Boost * Fed’s Fischer Says Central
Bank Will Watch Dollar for Impact on Demand
*BOJ Member Warned of Possible Negative Effects of Additional Stimulus *
India’s Central Banker Highlights Inflation Progress
Daily Macro – WSJ
If global
aggregate demand isn’t strong enough, there is only so much future growth that
companies can project, and their share price multiples can only go so high. No
doubt, people are looking for a bottom, and an argument can be made that
conditions are still supportive of stocks, but this disconnect between economic
reality and expensive prices is at least finally being noted.
Dollar
Firms, but Focus is on Equity and Oil Meltdown – Marc
to Market
Monthly
Oil Market Report –
OPEC
OPEC
Cuts Demand Outlook by Most in 3 Years on U.S. Shale – BB
Macro
Digest: The mood sours – TradingFloor
Steen
Jakobsen: Excessively low inflation problematic for risk assets * ECB, BoJ
& Fed showing different degrees of ineptitude * Yellen is much more dovish
than folk realise
Schaeuble,
Summers Debate the Psychology of Economic Reform – WSJ
FINNISH
HS-Gallup: Hallitukseen luottaa 45 prosenttia – Verkkouutiset
Teollisuuden uudet tilaukset elok. +4,5% YoY – Tilastokeskus
Teollisuustuotanto elok. -3,5% YoY – Tilastokeskus
Teollisuuden toimialoilla -76.300 työpaikkaa vuosina 2007–2012
– Tilastokeskus
Palkkasumma kesä-elok. +0,7% YoY – Tilastokeskus