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  EVENTS in the evening / Business Cycle, Central Banks, Politics | News | Bit Updates
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EVENTS in the evening / Business Cycle, Central Banks, Politics | News

Thursday, December 14th, 2017 | bitcoin updates

The most important events and reports on the economy, central banks, politics from the program of Dow Jones Newswires. According to Zypries "real risk" for partial failure of the Air Berlin loan After the Niki bankruptcy, the chances of a full repayment of the Federal Government granted credit to Air Berlin apparently not good. "The fact that we may only get back the credit in part is a real risk," said Federal Minister of Economics Brigitte Zypries on Thursday. She still believed, however, that it was right to grant the Überbrungskungskredit in the amount of 150 million euros, said the SPD politician. "And I also assume that a substantial portion of the loan will be repaid." Warning strikes in the metal industry in the southwest in the new year The union IG Metall has announced warning strikes for the metal industry in Baden-Wrttemberg in early January. The reason for this is for the union the insufficient supply of employers in the ongoing collective bargaining. "Then the workers will answer with warning strikes from 8 January," said IG Metall district manager Roman Zitzelsberger after the second trial in Ludwigsburg. The metal industry in the southwest is considered a pilot district for the whole of Germany. ECB leaves interest rates and forward guidance unchanged The Governing Council has left its key rates unchanged as expected and has also not changed its statements on the future development of key rates and forward rates. As the ECB said, the main refinancing rate remains at 0.00 per cent, the marginal lending rate at 0.25 per cent and the rate of surplus deposits by banks at minus 0.40 per cent. The Governing Council expects that policy rates will remain at their current levels for a longer time and well beyond the time horizon of the net acquisition of assets. ECB President maintains monetary outlook The European Central Bank (ECB) is maintaining its monetary outlook despite the robust economic upturn in the eurozone. It continues to require ample monetary stimulus, said President Mario Draghi at his press briefing following the Council meeting. However, the latest data on the development of inflation remained "somewhat muted". However, the Council is confident that inflation will rise in the medium term, Draghi added. Merkel criticizes Tusk's proposals for EU migration policy Chancellor Angela Merkel (CDU) has argued in the debate over refugee quotas against EU Council President Donald Tusk. The advisory basis sent by Tusk for the EU summit was "not yet sufficient," said Merkel on Thursday in Brussels. The protection of the outer borders is important, "but we also need solidarity inwards". A "selective solidarity" in the EU could not exist. The EU heads of state and government are discussing refugee policy on Thursday evening. Tusk, the summit organizer, had called compulsory intake rates for refugees in his letter of invitation "highly divisive" and "ineffective". French central bank raises growth forecasts The French central bank will be more optimistic for the domestic economy. The Banque de France raised forecasts for economic growth. For this year, the central bank expects gross domestic product to increase by 1.8 percent, and by 2018 it will grow by 1.7 percent. In the June forecast, the central bank had still assumed 1.3 and 1.5 percent. The French economy, driven by a strong recovery in investment, gained momentum in 2017 after years of corporate and budget restraint. Sweden raises retirement age from 61 to 64 years Sweden will not be able to retire until the age of 64. The retirement age is to be gradually increased from the current 61 to 64 years, as Social Minister Annika Strandhall and Finance Minister Per Bolund announced on Thursday. This should increase pay and ensure pension security. The four center-right opposition parties also signed the statement distributed via the daily newspaper Dagens Nyheter. The reform is to be implemented by 2026. US retail business is doing more in the pre-Christmas business than expected The beginning of the Christmas business has gone better for the US retailers than expected. They had 0.8 percent more money in the coffers in November than in the previous month. In total, they sold around $ 493 billion. Economists surveyed by Dow Jones Newswires had only expected a 0.3% increase in sales by consensus. The US Department of Commerce continued to report that revenue excluding the auto sector increased by 1.0 percent over the previous month. Economists had expected growth of 0.7 percent in this category. Initial US jobless claims lower than expected In the US, fewer first-time jobless claims were expected in the week ended December 9 than expected. Compared to the previous week, the number fell on a seasonally adjusted basis by 11,000 to 225,000 applications, as the US Department of Labor announced. Economists surveyed by Dow Jones Newswires had predicted a slight decline to 235,000. For the previous week, the value was not revised, it was 236,000. Markit: US economic sectors with different directions The US economy showed a mixed picture in December. The slowdown in the services sector was buoyant in the manufacturing sector. However, the strength in the industry was not enough to bring the IHS Markit Institute overall collection index for private sector production to the forefront. It fell to 53.0 from 54.5 points in the previous month and thus to a nine-month low. Above 50 points, the economic barometer signals growth. Contact the author: konjunktur.de@dowjones.com DJG / DJN / AFP / brb (END) Dow Jones Newswires December 14, 2017 13:00 ET (18:00 GMT)


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