Euro area money supply and UK’s exit legislation from EU in focus – Danske Bank
|According to analysts at Danske Bank, in the euro area, we face a week with many interesting data releases.
Key Quotes
“Monday kicks off with M3 money supply growth and private sector loan growth for January. Loans to households increased 2.0% in December, up from 1.9% in November, while loans to non-financial corporations were up 2.3% in December from 2.1% in November. We expect loan growth to the private sector in January to remain around the December levels.”
“In the UK, focus continues to be on the passing of the EU exit legislation, enabling the UK government to trigger Article 50. The bill is currently in the House of Lords and the so-called committee stage begins on today, where the Lords will discuss and vote on amendments. It remains our base case that the Lords will not delay the bill and the UK remains on track to trigger Article 50 by the end of March, perhaps at the EU summit in Malta on 9-10 March. If the Lords agree the amendments, the bill will go back to the House of Commons for approval and then back and forth between the two chambers until the wording is agreed upon.”
“In the US, capital goods orders data for January is due out. These figures will give us a first impression of whether investments continue to gain momentum as seen during the second half of 2016.”
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