Spreadex Market Update
Doubts raised over policy
Whilst it is expected that Chancellor George Osborne will pave the way for looser monetary policy when he presents his annual budget on Wednesday, the Bank of England chief economist Spencer Dale has raised some doubts over the policy. Dale believes that there are worrying signs that banks are shifting focus from inflation to growth. Dale believes that it is difficult to predict to what extent it is possible to support economic growth without a big increase in inflation.
The Italian parliament convened on Friday for the first time since last month's deadlocked election with no sign of a deal to end the stalemate and yield a new government able to tackle reforms in Europe's troubled third largest economy. The first task of the 630 lower house deputies and 315 senators sitting on Friday will be to elect the speakers, who hold two of the highest offices of state and play a central role in managing the parliamentary agenda.
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