Accessing liquidity facilities in Spain, Italy and France where it also has units, and will continue to do so until guarantee scheme is in place

–Adds Treasury Comment To Version Transmitted At 0930 GMT LONDON (MNI) – Economic growth in the third quarter was driven by a large build up of stocks, while household expenditure was flat, suggesting the economy remains extremely fragile, figures released from National Statistics showed Thursday. The second estimate of GDP showed growth was unrevised at [...]

EU needs vision based on shared values Financial transaction tax to reduce power of markets Joint borrowing would need enhanced economic rules

– Adds Results for Sectors Nov MNI analysts survey Oct Sep median range ———————————————————————— Business sentiment: 106.6 105.0 104.0 – 105.7 106.4 107.4 Current conditions 116.7 115.3 114.2 – 116.0 116.7 117.9 Six-month outlook: 97.3 95.8 95.0 – 96.2 97.0 97.9 – FRANKFURT (MNI) – Returning optimism in Germany’s six-month outlook and a stable view [...]

Ran into some headwinds up at 0.9785 after the buy stops were tripped. We may now see some attraction to 0.9800 where there are large option strikes rolling off today.  Offers are still in place at 0.9790/00 and some more  at 0.9810. AUD’s at 0.9777

Forecasts shouldn’t be ignored but decisions shouln’t be linked rigidly and mechanically to them either Current inflation forecasts subject to uncertainty; barring shocks sees 2-3% inflation in 2012 Big forces at work in Australia including terms of trade and some mild household deleveraging.

LONDON (MNI) – The Bank of England Monetary Policy Committee has not run out of policy options, MPC member David Miles said. The minutes of the November MPC meeting stated that gilt “market capacity made it difficult to increase the monthly rate of purchases substantially,” effectively acknowledging there is a ‘speed limit’ to quantitative easing, [...]

–Q3 Revised GDP +0.5% q/q; +0.5% y/y LONDON (MNI) – Economic growth in the third quarter was driven by a large build up of stocks, while household expenditure was flat, suggesting the economy remains extremely fragile, figures released from National Statistics showed Thursday. The second estimate of GDP showed growth was unrevised at 0.5% on [...]

UK DATA: Q3 Revised GDP +0.5% q/q; +0.5% y/y –Q3 GDP in line with median forecast ———————————————————————— Economic growth in Q3 was driven by a large build up of stocks, while household expenditure was flat, suggesting the economy remains extremely fragile. GDP was unrevised at 0.5% q/q and 0.5% y/y. By far the largest contribution [...]

BRUSSELS (MNI) – The European Union could ultimately face disintegration if it does not act now to reestablish confidence in Eurozone sovereign bonds, the president of the European Commission warned on Thursday. “The cost of non-action is fragmentation, which could ultimately lead to disintegration,” Barroso said in a video address to a conference here. “The [...]

Q3 Household spending-1.5%y/y, unchanged q/q Q3 Govt spending +2.9% y/y,  +0.9% q/q Q3 Ind Output  -0.8%y/y  +0.4% q/q. Mfg output  +2.1% y/y, +0.2% q/q GBP/USD’s steady around 1.5545/50

BERLIN (MNI) – German Economics Minister Philipp Roesler on Thursday strongly reaffirmed his opposition to the introduction of eurobonds in the Eurozone. “We do not want eurobonds because we do not want interest rates to rise dramatically in Germany,” Roesler said in a speech in the lower house of parliament, the Bundestag. “This would hurt [...]

Nov MNI analysts survey Oct Sep median range ———————————————————————— Business sentiment: 106.6 105.0 104.0 – 105.7 106.4 107.4 Current conditions 116.7 115.3 114.2 – 116.0 116.7 117.9 Six-month outlook: 97.3 95.8 95.0 – 96.2 97.0 97.9 – FRANKFURT (MNI) – Returning optimism in Germany’s six-month outlook and a stable view of current conditions unexpectedly lifted [...]

UK faces little growth for next few quarters BOE will use whatever options available to bolster growth, hasn’t run out of tools British banks are in  a relatively strong position EU crisis having substantial impact on UK due to higher funding costs

Collapse in German growth however is not expected Impetus from abroad is declining Expects positive domestic business, companies preparing for slow down already

ITALY DATA: November seasonally-adjusted consumer confidence improved for the first time in five months rising to 96.5 from 93.3 in October, with a gain across all components, and a marked improvement the in consumers sentiment in the general economic climate. –Consumers’ sentiment on the economic climate rose to 83.4 from 76.0; confidence in the future [...]

LONDON (MNI), Nov 23 – Gilt market constraints are imposing a limit on the speed at which the Bank of England Monetary Policy Committee can carry out quantitative easing, making any acceleration before February highly unlikely and capping the amount of QE the MPC is likely to approve at that time. At the margins, analysts [...]

First rise in 5 months. Consumer sentiment up to 83.4 in Nov from 76.0, confidence up to 89.1 from 82.1, with personal climate up 101.6 from 98.6 Another set of improved figures for the eurozone but little reaction so far in EUR/USD which is sitting around 1.3387  

Current conditions index 116.7 (116.7) Expectations index 97.3 (Oct 97.0) Overall better than expected and gives EUR a small boost up to  1.3395

Market is looking for  a number of around 105, from  106.4 in Oct, with 115.3 for current assessment and 96 for business expectations