The theme of both Britain’s main political parties behaving like they want to lose next May’s election continues.
It’s ECB day. While the Federal Reserve has called time on its bond-buying and the Bank of Japan decided to create money at a more furious rate, the euro zone central bank will plot the middle course – waiting to gauge the impact of its recent efforts to pump more money into the currency bloc’s economy before entertaining further action.
After euro zone inflation ticked up for the first time in many months and the latest PMI surveys showed factory activity expanded only very slightly last month, today the European Commission publishes its autumn economic forecasts.
The predictable battle lines were drawn at the G20/IMF meetings in Washington – most of the world urged Europe to do more to foster growth while Germany warned against letting up on austerity. The argument will doubtless be reprised today when euro zone finance ministers meet in Luxembourg.