Holger Schmieding Quotes (24 Quotes)

The evidence on U. K. consumption remains contradictory. Some data such as weak consumer confidence and the reluctance to use credit cards point to further weakness ahead. However, the modest rebound in the real estate market and anecdotal evidence of satisfactory Christmas indicate a modest strengthening in spending.

Slow growth last year is still affecting the labor market.

The figures are not proof yet of an economic slowdown as they are being distorted by cutbacks in work creation programs.

This has weakened his claim to be the one who could lecture other financial ministers on how to run their economies. He should publicly apologize to the IMF staffers whom he scolded last time for being too pessimistic on the U.K.

It is unlikely now that Germany and Italy will move ahead on the crucial issue of dismissal rules.

It seems as if the labor market would stabilize even if it's still too early to speak of a change in trend. It's good news for consumption, but faced with high oil prices, a real improvement doesn't seem very likely for now.

There could have been a heated discussion, with the doves preventing the acceleration in the pace of rate hikes the hawks may have wanted.

There is a reasonable chance of the bank cutting rates.

Germany does not need abstract economic ideas it needs labor market reforms.

Faced with an extremely high euro and high wage costs, the companies stepped up their restructuring. When the euro declined last year, they suddenly found they could take on the world quite easily.

The hope that Germany would be a shining European example for accelerated reforms has been dashed,

This is the worst thing we've had from the German economy for some time.

Whatever the color of Germany's new government will ultimately be, the pace of structural reforms is likely to be slow.

Germany is reaping the fruits of wage restraint and painful structural reforms. In addition, the change in government seems to have improved the business climate even if Merkel has so far done hardly anything in terms of serious economic reforms.

They were slightly more dovish than I expected. There is a bit of a conflict between the bank's statement, and the numbers they gave.

Growth looks more likely to stay below than to rise above 2.5 in the foreseeable future. A further decline in inflation, coupled with mediocre growth, will likely tilt the balance towards further rate cuts later this year.

Britain has learned that there is no harm is selling your local champions to foreigners.

We've just had the worst 24 hours for the European reform outlook in a long, long time.

The bank hiked rates aggressively in late 2003 and early 2004 to cool down an economic boom fueled by an explosive rise in house prices, and clearly attained that goal.

We think around 4.5 percent is the adequate level for U.S. interest rates -- you could call it a neutral level -- and as there are modest inflation risks in the U.S., we expect the Fed to go slightly beyond that to 4.75.

The orders data confirm that demand is very robust and we expect a significant acceleration in output growth shortly.

Six quarters of mostly below-trend growth are taking their toll. The trend in rising unemployment and muted wage pressures suggests underlying inflation in the UK could ease further, keeping the door open for a possible rate cut later this year.

The last 24 hours were the worst setback for reform hopes in Europe in a long time.

The ECB probably has not found a consensus yet on rate policy beyond Dec. 1. For this reason, the ECB is unlikely to provide any clear Fed-style guidance on the future course of rates,