BOE: MaPS Survey: Lower neutral; remit GBP6bln higher 25/26, GBP20-30bln 26/27

Italian government officials discuss the outlook for growth and the impact of a strong euro.- On MNI Policy MainWire now, for more details please contact sales@marketnews.com

German growth will be 0.2% in 2025, 1.3% in 2026 and 1.4% in 2027 according to the autumn economic projections of the German Economy ministry. These represent upwards revisions from 0.1% and 0.8% for 2025 and 2026 respectively in the last (spring) projection.

• Government expenditure is seen rising 6.1% Y/Y in 2025, 5.1% in 2026 and 2.2% in 2027. These figures are clearly higher than where they stood in the spring projection (which was published on 24 April, so after parts but not all of the recent fiscal expansion were passed in parliament) and may thus drive a decent part of the overall more optimistic growth outlook.
• Full release here: https://www.bundeswirtschaftsministerium.de/Redaktion/DE/Downloads/E/eckwerte-der-herbstprojektion-2025.pdf
• Economy minster Reiche is speaking currently: https://www.youtube.com/live/3uV77lKiqg4
• A reminder that yesterday, the fiscal projection of the German "Stability Council" found that "the Maastricht debt ratio could rise to around 80.25% of GDP by the end of the projection period in 2029" in Germany. This compares with a realised debt ratio
  of 62.5% of GDP in 2024.

• RES 4: 129.50 High Aug 5  
• RES 3: 129.58 61.8% retracement of the Jun 13 - Sep 3 bear leg     
• RES 2: 129.44 High Sep 10 and key short-term resistance
• RES 1: 129.07 76.4% retracement of the Sep 10 - 25 bear leg    
• PRICE: 128.97 @ 13:24 BST Oct 8
• SUP 1: 128.25/127.88 Low Oct 7 / Low Sep 25       
• SUP 2: 127.61 Low Sep 3 and the bear trigger
• SUP 3: 127.46 1.00 proj of the Aug 14 - 15 - 28 price swing  
• SUP 4: 127.13 1.236 proj of the Aug 14 - 15 - 28 price swing  

Bund futures have rallied sharply higher today and in the process cleared initial resistance at 128.84, the 61.8% retracement of the Sep 10 - 25 bear leg. The breach signals scope for a stronger recovery and potentially exposes key resistance at 129.44, the Sep 10 high. The next resistance is 129.07, the 76.4% retracement. The Oct 7 low of 128.25, has been defined as a key short-term support.