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Forex Flash: UK declines in rates and credit justifies further easing – Goldman Sachs

The sharp fall in real rates and decline in sterling in recent weeks has put the UK in focus. These factors combined with a decline in credit spreads have lead to a marked easing in UK financial conditions. “The combination of sluggish growth, significant spare capacity and weak inflationary pressures will be sufficient to justify further easing.” argues the Economics Research Team at Goldman Sachs.
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Italian borrowing costs rise at auction

The Italian Treasury held the first post-downgrade debt auction on Wednesday during which it managed to sell 6.993 worth of bonds out of the targeted 7.25 billion.
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