Nordic & Swiss Economics Update Negative rates: lessons from Denmark The Danish central bank’s use of negative interest rates provides an insight into one of the few untried tools still available to major central banks. Denmark’s experience suggests that negative rates... 19th February 2013 · 1 min read
Europe Economics Update German exports to outperform despite stronger euro The recent rise in the euro exchange rate is likely to hit Germany and Finland hardest given their strong trade links with non-euro-zone countries. But with exports from the south and periphery set to... 18th February 2013 · 1 min read
Europe Economics Update More rate cuts to come from the Swedish Riksbank The Swedish Riksbank’s decision to leave interest rates on hold reflects concerns that further rate cuts may prompt household debt to rise further with potentially damaging longer-term consequences... 13th February 2013 · 1 min read
Nordic & Swiss Economics Update More rate cuts to come from the Swedish Riksbank The Swedish Riksbank’s decision to leave interest rates on hold reflects concerns that further rate cuts may prompt household debt to rise further with potentially damaging longer-term consequences... 13th February 2013 · 1 min read
Europe Economics Update ECB softens its tone slightly, but makes no promises The European Central Bank (ECB) took a slightly softer tone this month, acknowledging that a stronger exchange rate might alter the inflation outlook. But President Draghi stopped a long way short of... 7th February 2013 · 1 min read
Europe Economics Update The strong euro won’t be all bad - just mostly The rise in the euro is not unambiguously bad for the euro-zone economy. But the negatives are likely to outweigh the positives. 6th February 2013 · 1 min read
Europe Economics Update TARGET2 still points to big problems While the recent slight reduction in TARGET2 imbalances echoes other signs of improvement in the euro-zone, they still point to serious underlying problems in the economy and banking sector. 5th February 2013 · 1 min read
Europe Economics Update Euro-zone Fiscal Monitor (Jan. 13) The latest fiscal news from the periphery suggests that Greece, Ireland and Portugal met their fiscal goals for 2012 as a whole. 29th January 2013 · 1 min read
Europe Economics Update Can exporters shrug off the euro's rise? The euro’s appreciation over recent months may not necessarily prove disastrous for exporters. But with domestic demand likely to continue to contract, the strong currency reduces the chances of the... 29th January 2013 · 1 min read
Europe Economics Update Gap between Germany and France to widen Recent economic data suggest that France is lagging further behind Germany. If anything, we suspect that this gap will widen as the year goes on, leading tensions between the two countries to rise. 28th January 2013 · 1 min read
Europe Economics Update Euro-zone Monetary Indicators Monitor (Dec. 12) The latest euro-zone monetary data have brought further signs of an improvement in financial market conditions. However, lending to firms and households has continued to fall and seems unlikely to... 28th January 2013 · 1 min read
Europe Economics Update LTRO repayments to give mixed signals The expected repayment of some ECB LTRO funding should add to signs that the region’s banking system is on the mend. But it will also underline the weakness of demand in the region and could fuel... 24th January 2013 · 1 min read
Europe Economics Update What scope for a virtuous circle? While the improvement in financial market sentiment seen over recent months should have some beneficial effects on the euro-zone’s troubled economies, hopes that a “virtuous circle” will bring an end... 23rd January 2013 · 1 min read
Europe Economics Update Post-election Germany might offer periphery more support Yesterday’s narrow loss for Germany’s current governing coalition in the state of Lower Saxony added to evidence that September’s general election could result in a change of government. While Angela... 21st January 2013 · 1 min read
Europe Economics Update Cypriot bail-out struggles continue The Troika and the Cypriot Government have reached a stalemate, with the latter refusing to agree to the terms for a vital bail-out. An agreement should be reached after next month’s election and... 17th January 2013 · 1 min read
Europe Economics Update The euro could rise further - unhelpfully While the euro may well strengthen further in the near term, we still expect it to weaken again later in the year as worries over the currency union resurface. In the meantime, though, the strong... 15th January 2013 · 1 min read
