Key Economic News to Watch This Week: March 4

After last week’s inconclusive Italian general elections, as well as the United States’ failure to prevent steep automatic spending cuts, markets will be looking to see how central banks respond. Despite some speculation on further easing, the European Central Bank is unlikely to announce any policy changes when it meets on Thursday and economists have warned that the Bank’s current policy stance won’t be enough if the eurozone crisis is aggravated.

Monday, March 4

After last week’s inconclusive Italian general elections, as well as the United States’ failure to prevent steep automatic spending cuts, markets will be looking to see how central banks respond. Despite some speculation on further easing, the European Central Bank is unlikely to announce any policy changes when it meets on Thursday and economists have warned that the Bank’s current policy stance won’t be enough if the eurozone crisis is aggravated.

Monday, March 4

A presidential and parliamentary election takes place in Kenya, the first general election since a disputed contest in 2007 which descended into violence.

Related Story: Kenya’s Oil: The Hottest Energy Prospect In Africa?

Related Story: Kenya’s Slow & Painful Path to Vision 2030: A Result Of Human Failure?

Tuesday, March 5

The National People’s Congress, the Chinese parliament, starts its two-week annual plenary session in Beijing. More than 3,000 delegates will gather in the Great Hall of the People and leaders are expected to “rubber stamp” a slew of socioeconomic development plans for the next year. China will also be ending the controversial system of forced labour camps, a first step towards promises of greater reform by incoming party chief Xi Jinping.

Related Slideshow: Who is Xi Jinping?

Thursday, March 7

The European Court of Justice will issue two rulings on the functioning of the European Union’s cap-and-trade plan in Poland, the Czech Republic and Hungary. Poland sued the European Commission in July 2011, arguing that the Brussels-based EU regulator failed to take into account fuel mixes in individual member states when devising the carbon-efficiency benchmark.

Related News: A Carbon Index for Financial Markets?

Related News: Australia Green Lights Pay-to-Pollute Tax

Friday, March 8

The opposition National League for Democracy, led by Aung San Suu Kyi, holds its first national congress (to March 10), reflecting the dramatic political change sweeping the country.

Related News: Myanmar Clears Overdue Debt with World Bank, ADB

Related Story: Guarded Optimism At The Gates Of Myanmar

Sunday, March 10

A referendum on the political status of the Falkland Islands starts, with islanders widely expected to affirm remaining with Britain as they are asked whether they support continuation of their status as an overseas UK territory.

Related News: Argentina Vows To Take Action over Falklands Oil