The Day Today 10th January 2019

  • PM May loses another vote giving her only 3 days to present Parliament with a Plan B should her deal fail
  • Mirror: Downing St will support Labour amendment guaranteeing workers rights and some environmental protection
  • Dep Labour leader Watson: it is a matter of “when not if” Labour bring a vote of No Confidence in May’s Govt
  • Times: Labour Brexit Sec Starmer has told Labour leadership the only way out of Brexit is a second referendum
  • UK Business Sec Clark: “we can’t go on like this… January must be the month Parliament resolves how we will act”
  • BOE Carney: Bank will be “prudent not passive” after Brexit
  • Japan PM Abe: we have been working with Dutch PM Rutte to avoid No Deal Brexit and “minimise” the impact on the global economy
  • Austria Chlr Kurz: should UK fail to ratify PM May’s deal, EU must be prepared to extend Article 50
  • ECD de Guindos remains confident that more countries will join the single currency
  • Italy Dep PM Di Maio: we will either nationalise Banca Carige or we will not put a single EUR into it
  • Italy Dep PM Salvini pledges a “new European Spring” in European Parliament elections
  • FOMC mins; the Fed could afford to be patient about further tightening, negative risks may have increased of late
  • Pres Trump walks out of meeting with Democrat leadership calling it a “total waste of time
  • Vice Pres Pence: Democrats have said they are unwilling to negotiate on the wall unless Govt re-opens
  • WSJ: Pres Trump may miss Davos economic forum if Govt shutdown is not resolved by Jan 22
  • Chicago Fed Evans still sees rate hikes in 2019 but adds there are unseen risks and the Fed can wait until “tough to read factors” have revealed themselves
  • Boston Fed Rosengren: “Current monetary policy seems appropriate for now… I believe we can wait for greater clarity before adjusting policy”
  • BOJ Kuroda: BOJ will keep short and long term interest rates at current very low levels for an extended period
  • N Korea Kim and China Xi held talks to discuss changing political landscape on the Korean peninsula
  • Fitch: Where in the economic cycle are the various EM economies?

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