Friday, November 27, 2015 - 13:35 Analysis: New US House Speaker's Big Test Is Two Weeks Away 0
--Stop-Gap Budget Bill Runs Out Dec 11
--$30 Billion Fed Fund Hangs in Balance in Transportation Bill
WASHINGTON (MNI) - With just two weeks to go before budget bills have to be passed to avoid a government shutdown, government employees and, most of all, its contractors - who do not get any payroll losses reimbursed - are pinning their hopes on the new Speaker of the House.
Yet Speaker Paul Ryan has already pledged the ultimate budget bills for a fiscal year, already two months old, will carry "riders" and they could be the mechanism that threatens a shutdown.
Riders are those provisions that are tacked onto a...
Friday, November 27, 2015 - 08:44 EURO WEEK AHEAD: ECB Policy Meeting, EMU Inflation In Focus 0
By Martin Baccardax
LONDON (MNI) - European investors will navigate an active slate of Economic data next week, highlighted by perhaps the most unpredictable monetary policy meetings from the European Central Bank in at least two years.
ECB President Mario Draghi has made little secret of that fact that he would prefer to deepen the Bank's accommodative policy stance in the midst of increasing concern that the Governing Council may struggle to deliver its medium-term price stability mandate.
Market expectations point to a decisive cut in the Bank's deposit facility, taking the record-low rate of -0.2% deeper into negative territory, and an extension or expansion of its asset purchase programme.
Friday, November 27, 2015 - 02:45 France Housing Starts, Building Permits Post Modest Increase 0
Oct-Aug Starts +0.3%; Building Permits +2.5%
PARIS (MNI) - France's housing starts and building permits rose again in the three months through October as a recovering housing market and government stimulus measures spurred increased demand for new homes.
Starts rose by 0.3% in the October-August period compared with the previous three months, while building permits increased by 2.5%, the Ministry for Ecology and Development said Friday.
Starts for single-family homes increased by 2.0% in the period, while those for multifamily units fell by 0.9%. Permits to build individual homes declined by 2.7%, while multifamily permits jumped 6.4%, according to the ministry.
Thursday, November 26, 2015 - 10:16 IFS: UK Austerity Goes On; Osborne Needs Luck To Get Surplus 0
By David Robinson
LONDON (MNI) - The Institute for Fiscal Studies said that, contrary to some press headlines, austerity is still going strong in the UK and Chancellor of the Exchequer George Osborne's luck will need to hold if he is to achieve his goal of an overall budget surplus by end 2019-20.
Osborne unveiled his Autumn Statement Wednesday and it showed lower debt interest payments and forecast modelling changes providing a substantial boost to the public finances in coming years. He slowed the planned pace of spending cuts but the IFS pointed out that these cuts are still substantial.
The IFS also warned that future forecast changes could well be larger than Wednesday's and the impact is as likely be negative as...
Thursday, November 26, 2015 - 03:15 France Finmin: Security Spending Won't Jeopardize Deficit Goal 0
By Jack Duffy
PARIS (MNI) - French Finance Minister Michel Sapin said Thursday that extra spending on security following the November 13 Paris terrorist attacks won't jeopardize the government's 2016 deficit target.
Speaking on BFM-TV, Sapin reiterated that the 2016 budget would include E600 million in additional spending related to security measures.
"I will not put any budget obstacle before the internal of external security of French citizens but France won't abandon the necessary objective of decreasing our deficits," Sapin said.
"A serious budget policy will continue to be applied and the objectives for lowering the deficit that we have fixed for next year remain the same," Sapin said.
Wednesday, November 25, 2015 - 11:26 US FHFA Raises Conforming Mtg Loan Limits for 39 Counties-Text 0
--Base-Line Limits Maintained for Most of Nation
WASHINGTON (MNI) - The following is an announcement by the regulator of Fannie Mae and Freddie Mac, published Wednesday:
2016 Maximum Conforming Loan Limits Established for Fannie Mae and Freddie Mac
National Baseline Loan Limit Remains Unchanged; Limits Rise for 39 High-Cost Areas
The Federal Housing Finance Agency (FHFA) today announced that the maximum conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac in 2016 will remain at existing levels, except in 39 high-cost counties where they will increase.