UK Economics Weekly Stronger pound helpful for BoE, but rising oil price is a risk While the pound's recent appreciation against the US dollar doesn't materially change the outlook for UK CPI inflation, the Bank of England will welcome a bit more disinflationary pressure. But one... 30th January 2026 · 4 mins read
UK Economics Rapid Response UK Money & Lending (Dec. 2025) December’s money and lending data suggest that households’ caution with their borrowing and saving hasn’t gone away, reinforcing our view that consumer spending will underperform the consensus... 30th January 2026 · 3 mins read
US Rapid Response New Fed Chair Announcement If officially announced later today, President Trump’s apparent pick of Kevin Warsh for the next Fed Chair would arguably be one of the better outcomes for investors compared to the other contenders... 30th January 2026 · 4 mins read
Japan Economics Weekly An LDP majority will not be fiscally profligate New polling suggests that the ruling Liberal Democratic Party is on track to secure an outright majority in the lower house following elections on February 8th. Although there have been concerns in... 30th January 2026 · 4 mins read
Japan Rapid Response Retail Sales & Industrial Production (Dec.) Although activity indicators for December were relatively soft, they won’t have prevented the economy from bouncing back across Q4 as a whole. Moreover, there are still reasons to be cautiously... 30th January 2026 · 2 mins read
Australia & New Zealand Economics Weekly Persistence in shelter inflation will keep RBA on edge With inflation once again surprising to the upside of its expectations, the Reserve Bank of Australia will almost certainly raise interest rates at its meeting next week. Moreover, much to the Bank’s... 29th January 2026 · 4 mins read
US Economics Update Larger tax refunds a windfall for households in H1 2026 Households’ annual tax refunds should be about $100bn larger this year, a windfall equivalent to 0.5% of annualised consumption. Although temporary, this boost gives us further reason to expect that... 29th January 2026 · 4 mins read
US Employment Report Preview Modest payroll gain and unchanged unemployment The January employment report will reveal significant downward revisions to payrolls in 2025 and, due to an updated methodology for the birth-death model, the initially reported payroll gains for this... 29th January 2026 · 6 mins read
US Rapid Response US International Trade (Nov. 2025) The sharp swings in trade continued in November, with the trade deficit rebounding sharply to $56.8bn, from the prior month’s multi-year low of $29.2bn, a move that will lower most estimates of fourth... 29th January 2026 · 1 min read
Canada Rapid Response Canada International Trade (Nov 2025) Exports volumes in November are not as bad as first appears, and probably would have risen if not for a plunge in volatile gold exports. Meanwhile, we continue to see tentative signs of Canada... 29th January 2026 · 2 mins read
BoE Watch BoE’s wage worries to cement slower pace of rate cuts While leaving interest rates at 3.75% at the policy meeting on Thursday 5th February, the Bank of England will probably hint that the next rate cut isn’t imminent and imply that rates may not fall... 29th January 2026 · 6 mins read
US Economics Update Fed sticks to loosening bias despite stronger activity data The change to the FOMC’s policy statement, acknowledging the recent solid pace of GDP growth and stabilisation in the unemployment rate, is another sign that the Fed is unlikely to cut interest rates... 28th January 2026 · 3 mins read
US Rapid Response US Fed Policy Announcement (Jan 2026) The change to the FOMC’s policy statement, acknowledging the recent solid pace of GDP growth and stabilisation in the unemployment rate, is further evidence that the Fed is unlikely to cut interest... 28th January 2026 · 2 mins read
Canada Economics Update Bank in holding pattern awaiting CUSMA renegotiation The Bank of Canada’s largely-unchanged economic projections are similar to our own, although we think the slow pace of economic growth this year will help ease core price pressures sooner than... 28th January 2026 · 3 mins read
US Economics Update Official population projections may not be low enough US population growth is expected to slow to only 0.2% y/y this year, matching the record low. Yet the risks to the official forecasts arguably lie to the downside, with a modest fall in the population... 28th January 2026 · 5 mins read
Canada Rapid Response Bank of Canada Policy Announcement (Jan 2026) The Bank of Canada’s largely-unchanged economic projections are similar to our own, although we think the slow pace of economic growth this year will help ease core price pressures sooner than... 28th January 2026 · 3 mins read
