Italian Assurances on Budget, No Second Brexit Vote: Eco Day

(Bloomberg) -- Welcome to Monday, Europe. Here’s the latest news from Bloomberg Economics to get your week started:

• Troubleshooting: Italy’s finance minister Giovanni Tria assured markets that September’s budget would not go off the rails, telling la Repubblica the nation’s yield spread will narrow once details are unveiled. On Friday, Fitch cut its outlook on Italy to negative
• Out in the cold: Still in Italy. The nation could find itself excluded from the heart of euro-area monetary policy once European Central Bank President Mario Draghi’s eight-year term ends in October 2019
• No second chances: British PM Theresa May ruled out a second referendum on Brexit. May wrote in The Telegraph that another vote “would be a gross betrayal of our democracy,” and said Britain would leave the EU by March 29
• Rich getting richer: Wealth inequality is rising in the U.K. with London leading the trend, a new analysis showed
• A black box: Why determining the true mood of the Chinese consumer has rarely been so important
• Rising investment: Japanese companies increased capital spending by the most in more than a decade, as they raised capacity to meet global demand and invested in labor-saving technology
• Lengthy pause: Rising mortgage costs in Australia suggest the central bank will extend its record interest-rate pause into the next decade
• Uneasy sits the crown: India’s world-beating economic growth is running up against some big risks: high oil prices, emerging market stress and policy paralysis
• Up for it: South Africa’s central bank chief has a fight on his hands to protect the central bank’s $50 billion of reserves
• Brace for action: Turkey is likely to set the tone for emerging markets again this week following the battering some currencies suffered in August

To contact the reporter on this story: Anirban Nag in Mumbai at anag8@bloomberg.net

To contact the editors responsible for this story: Nasreen Seria at nseria@bloomberg.net, Karthikeyan Sundaram, Pradeep Kurup

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