Australia & New Zealand Economics Update Australia’s housing market loses some steam Australian house prices pared their gains in February, as housing demand softened a touch. Although the slowdown was driven largely by Sydney and Melbourne, we suspect it will become more broad-based... 2nd March 2026 · 3 mins read
US Economics Weekly Tariff uncertainty continues The initial response to last Friday’s Supreme Court ruling that its IEEPA-related tariffs were illegal suggested that the Trump administration had been carefully planning for that outcome. Within 24... 27th February 2026 · 7 mins read
US Rapid Response US Producer Prices (Jan 2026) The 0.5% m/m increase in final demand PPI in January is another illustration that elevated price inflation remains a threat. Excluding food and energy prices, which were pulled down by a 5.5% m/m... 27th February 2026 · 2 mins read
Canada Rapid Response Canada GDP (Q4 2025) The 0.6% annualised decline in fourth-quarter GDP was not as bad as it looked, with most of the drag coming from weaker inventory building, whereas domestic demand growth rebounded to more than 2%... 27th February 2026 · 2 mins read
UK Economics Weekly Labour feeling Green, AI optimism, near-term jobs risks The government’s loss in this week’s by-election may raise the chances of looser fiscal policy than otherwise, higher gilt yields than otherwise and a lower pound than otherwise. Meanwhile, the risks... 27th February 2026 · 5 mins read
Japan Economics Weekly Case for near-term rate hike strengthening While the escalating tensions between China and Japan will provide a small drag on output this quarter, the January activity data were encouraging and suggest that GDP growth will pick up this quarter... 27th February 2026 · 4 mins read
Australia & New Zealand Economics Weekly Aussie firms on capex spree, Ardern joins Kiwi exodus The evidence that the Australian economy is operating with excess demand continues to pile up. We learnt this week that private capex growth surged to a two-year high in Q4. Moreover, with firms... 27th February 2026 · 5 mins read
Japan Rapid Response Japan Retail Sales & Industrial Production (Jan. 26) On balance, the January activity and inflation figures suggest that the BoJ won’t wait much longer before hiking rates again. 27th February 2026 · 2 mins read
US Chart Pack US Chart Pack (Feb. 2026) The average tariff rate will decline following the Supreme Court’s IEEPA ruling, but not by enough to materially change the near-term outlook for the economy. That hinges on AI-related investment and... 26th February 2026 · 1 min read
US Employment Report Preview Health care likely to be the key driver of payrolls again We estimate that non-farm payrolls rose by 80,000 in February, but that the unemployment rate will nonetheless rebound to 4.4%. 26th February 2026 · 4 mins read
UK Housing Market Chart Pack UK Housing Market Chart Pack (Feb. 2026) The green shoots of a recovery in the housing market at the start of 2026 support other evidence that suggests the economy has strengthened. We think further falls in mortgage rates and looser lending... 25th February 2026 · 1 min read
Australia & New Zealand Chart Pack ANZ Chart Pack (Feb. 2026) Our ANZ Chart Pack has been updated with the latest data and our analysis of recent developments. The continued acceleration in Australia’s underlying inflation at the start of the year vindicates the... 25th February 2026 · 1 min read
Australia & New Zealand Rapid Response Australia Consumer Prices (January 2026) Trimmed mean inflation climbed to a fresh high in January, consistent with our view that the Reserve Bank of Australia will keep tightening monetary policy. 25th February 2026 · 2 mins read
US Housing Market Rapid Response US Case-Shiller/FHFA House Prices (Dec. 2025) The marked reacceleration in house price growth in December, to 5.5% on a three-month annualised basis from negative territory only four months prior, reflects strengthening housing demand as mortgage... 24th February 2026 · 2 mins read
Japan Economics Update Japan has got 99 problems but investment isn’t one PM Takaichi is misdiagnosing what’s holding back Japan’s economy. This means that rather than boosting Japan’s long-term growth potential, her policies may instead unleash a wave of wasteful public... 24th February 2026 · 3 mins read
Global Economics Update Questions & answers on the new US tariff regime The imposition of a 10% Section 122 tariff on all countries leaves the weighted-average US tariff rate about 3.5%-points lower than was the case under the IEEPA framework, although the difference will... 23rd February 2026 (Updated 24th February 2026) · 8 mins read
