Europe Rapid Response Euro-zone HICP (March) The jump in headline inflation in March was almost entirely due to higher fuel prices and tells us little about what will happen to food or core inflation in the coming months. In our baseline... 31st March 2026 · 2 mins read
Europe Rapid Response Euro-zone EC Survey (March 2026) March’s EC survey suggests that the jump in energy prices has had a very limited impact on activity so far, while services firms’ selling price expectations are little changed. 30th March 2026 · 2 mins read
Europe Rapid Response Germany Ifo Survey (March 2026) The fall in the German Ifo BCI and the Composite PMI in March suggest that the renewed rise in energy prices could derail the tentative recovery in the German economy seen in recent months. We expect... 25th March 2026 · 2 mins read
Europe Rapid Response Euro-zone Flash PMIs (March 2026) March’s euro-zone PMI survey shows that higher energy costs are weighing on demand and causing input prices to rise rapidly. 24th March 2026 · 2 mins read
Europe Rapid Response ECB Policy Announcement (March 2026) The ECB’s press release and updated forecasts suggest that policymakers think that the inflationary effects of higher energy prices will outweigh the disinflationary effects of weaker economic growth... 19th March 2026 · 2 mins read
Europe Rapid Response SNB Monetary Policy decision (March 2026) The SNB left its policy rate unchanged at zero today and nudged up its inflation forecast trivially. Otherwise, its commentary underlines the Bank’s willingness to intervene to limit upward pressure... 19th March 2026 · 2 mins read
Europe Rapid Response German Industrial Production (January) The falls in German industrial production in January and December erased most of the recovery seen in the previous months and left output close to its post-pandemic low. With the current spike in... 9th March 2026 · 2 mins read
Europe Rapid Response Euro-zone HICP (February 2026) February’s jump in core inflation, together with the increases in oil and gas prices since the weekend, reduce the chance of the ECB cutting interest rates this year. But as things stand, we don’t... 3rd March 2026 · 2 mins read
Europe Rapid Response EZ national inflation data (February) National inflation data released so far suggest that euro-zone headline inflation rose in February and that the core and services rate s were little changed. That is unlikely to change the ECBs... 27th February 2026 · 2 mins read
Europe Rapid Response Euro-zone EC Survey (February 2026) February’s EC survey suggests that the economy is expanding at a decent pace and that price pressures in the services sectors are still fairly strong. But the labour market is still loosening. While... 26th February 2026 · 2 mins read
Europe Rapid Response Germany Ifo Survey (February 2026) Although the German Ifo remained quite weak in February, we still think economic conditions in Germany are improving. And for now at least, it seems mostly likely that the US Supreme Court ruling and... 23rd February 2026 · 2 mins read
Europe Rapid Response Euro-zone flash PMIs (February) February’s flash PMIs support the view that activity in the euro-zone economy is growing at a reasonable pace, led by a pick-up in Germany, and that price pressures remain too high for the ECB to... 20th February 2026 · 2 mins read
Europe Rapid Response ECB President Suggestions that Christine Lagarde may leave the ECB before the end of her term do not have any immediate implications for monetary policy. But the story shows that European politicians (like those... 18th February 2026 · 3 mins read
Europe Rapid Response Swiss Flash GDP (Q4 2025) The 0.2% q/q rise in sporting event adjusted GDP in Q4 was a bit smaller than we expected (+0.5%). This may be partly because the 39% tariff imposed on Switzerland by the US was only reduced to 15%... 16th February 2026 · 2 mins read
