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19 Feb 2015

Greece Formally Requests Loan Extension

In the UK, the only notable economic release today is the CBI industrial trend survey which is expected to show that optimism among local manufacturers strengthened for February. Going forward, tomorrow’s retail sales numbers in Britain will be eyed to gauge the health of consumer spending last month, especially after UK’s core inflation ticked up unexpectedly for January. Across the Atlantic, the latest FOMC minutes revealed that some officials were concerned about an early interest rate rise in the nation. In the Euro zone, the ECB approved Greece’s request to extend its financial assistance to the country’s banks for a short term, thereby temporarily easing concerns about a Greek exit. Meanwhile, media reports indicate that Greece has formally requested for a loan extension.