Lorenzo Codogno Quotes (18 Quotes)


    In order to move interest rates higher, the ECB needs to be confident about the sustainability of the economic upswing, especially on the consumer side.

    As January data are inflated by a growing tendency towards gift vouchers over Christmas, which are then turned into purchases afterwards, a return to normal in February is likely to show up in more subdued sales.

    He certainly has political aspirations, and I don't think it will be the end of his career if the center-right loses. He will play an important role in the future of Italian politics.

    Protectionism remains the major threat to global growth.

    There are a number of countries that are increasingly uneasy about competitive pressures coming from Asia, and the softening of domestic industry.


    It was much more balanced than the first debate which Berlusconi clearly lost. This time I think there was no clear winner and I'm sure both sides will claim victory.

    It's not that clear cut that intervention will have an impact, ... What appears to be driving down the euro are money flows out of the euro zone. If this is the case, it is not the optimal moment for currency intervention.

    Despite oil price tensions and strengthening domestic demand, the inflation performance remains subdued. Barring another oil spike, the headline rate is likely to ease further during the course of the year.

    The debate may not have changed significantly the chances of victory of the two coalitions.

    The combination of high inflation and somewhat slower growth is certainly the worst thing for the euro,

    The government was very reluctant to take a position because it's a very delicate situation, but now they are really turning the pressure on.

    The monetary policy committee is still waiting for evidence on Christmas (retail) sales and wage negotiations. Then it will cushion the decline in the economy in a context of CPI (inflation) moderation.

    We believe that the long-awaited shift from soft to hard data is evidence of a recovery in euro zone private consumption has started, and will likely proceed gradually and modestly over the coming months, in line with the expected improvement in household real disposable income.

    With the energy bill having increased recently, the risk is that consumers will tighten their belts over Christmas. The euro-zone economy is still at risk of a disappointing Christmas.

    To be fair with Schroeder, he tried and by European standards he did do more than other governments in the past few years. But the problems in Germany are more entrenched now.

    There is clearly a risk now that they might be bold enough to tighten policy in December, We think they will wait until March.

    It's no surprise that the pressure is back on. At the end of the day, China allowed their currency to appreciate, but because they did so only marginally, there is disappointment elsewhere.

    Policy makers are not doing their job properly in order to support the euro,


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