The theme of both Britain’s main political parties behaving like they want to lose next May’s election continues.
After the Federal Reserve wound up its bond-buying programme, as expected, and the Bank of Japan sprung a surprise by sharply increasing the pace of its money-printing, this week the European Central Bank takes its monthly bow and will probably come up with nothing new.
Indian stocks have rallied sharply over the last two months, soaring to record highs, although the bull run that began with expectations that Narendra Modi will become the country’s next Prime Minister may soon run out of road.
Euro zone inflation – due at 0900 GMT – is forecast to hold at a paltry 0.7 percent in May, in what European Central Bank President Mario Draghi has labelled the danger zone below 1.0 percent for the eighth successive month.
The ecstasy and the agony.
Angela Merkel scored a resounding election victory but by apparently falling just short of an overall majority, while her FDP coalition colleagues failed to get the 5 percent share of the vote needed for any parliamentary representation, she is probably going to have to turn to the centre-left SPD to form a government.