- (SE)
- (IT) Italy Debt Agency (Tesoro) sold €6.5B vs. €6.5B indicated in 6-month bills; Avg Yield: -0.429% v -0.448% prior; Bid-to-cover: 1.54x v 1.53x prior
Looking Ahead
- 05:10 (EU) Daily ECB Liquidity Stats
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- 05:30 Greece Debt Agency (PDMA) to sell €625M in 26-week bills
- 05:30 (EU) ECB allotment in 3-month LTRO tender
- 06:00 (RU) Russia OFZ Bond auction
- 06:00 (BR) Brazil Feb FGV Construction Costs M/M: 1.0%e v 0.9% prior
- 06:00 (BR) Brazil Feb FGV Consumer Confidence: No est v 78.5 prior
- 06:45 (US) Daily Libor Fixing
- 07:00 (US) MBA Mortgage Applications w/e Feb 19th: No est v -5.1% prior
UK vaccine rollout has no effect on latest BoE economic forecast, says Andrew Bailey
The UK’s vaccine rollout and new roadmap out of lockdown will not affect the Bank of England’s 2021 economic forecast, according to its governor Andrew Bailey.
Bailey said that the latest forecasts, which were done late last year, predicted that economically the UK would be “back to where we were” in early 2022 and that the UK’s fast vaccine rollout has not changed expectations.
Bailey told Westminster’s Treasury Select Committee that first quarter GDP would be below previous expectations, however this was expected as a second national lockdown was not figured into the calculations.
Tensions were high on Wednesday evening at a meeting of the UK and EU Joint Committee, which ended in Arlene Foster blasting European officials as “tone deaf”. Northern Ireland’s first minister said she did not have “high expectations [beforehand]. given the attitude of the European Commission thus far”, but was still shocked by Brussels’ “stubborn and inflexible response” to issues surrounding the protocol. Speaking to the BBC afterwards, Ms.