Australia & New Zealand Rapid Response Australia Wage Price Index (Q1 2025) Although wage growth eased a touch in Q1, a look under the hood suggests that wage pressures could soon bubble up again. As a result, we still think the RBA has more work to do. 13th May 2026 · 3 mins read
Australia & New Zealand Economics Update Budget leaves RBA to do the heavy lifting on inflation The Australian government’s 2026/27 Budget does little to move the needle on fiscal policy. Although Commonwealth coffers will benefit from a windfall driven by higher commodity prices, much of this... 12th May 2026 · 4 mins read
Global Economics Chart Pack Global Economics Chart Pack - Iran War Edition (May 2026) While Gulf economies have already taken a big hit from the Iran war, the effect on activity in major economies seems to have been limited so far. Inflation has begun to rise and will continue to do so... 12th May 2026 · 1 min read
US Rapid Response US Consumer Prices (Apr 2026) The 0.4% m/m gain in core CPI in April was largely due to the expected jump in owners’ equivalent rent and another gain in airfares, rather than reflecting a significant broadening of inflation... 12th May 2026 · 3 mins read
US Housing Market Rapid Response US Existing Home Sales (Apr. 2026) The barely changed level of existing home sales in April shows how elevated mortgage rates and economic uncertainty are dissuading homebuying. With the full impact of the recent rise in borrowing... 11th May 2026 · 2 mins read
US Economics Weekly CIT ruling only a minor setback for the administration The federal court ruling this week that the administration unlawfully imposed the 10% global tariff under Section 122 of the Trade Expansion Act of 1974 is only a minor setback for Trump’s tariff... 8th May 2026 · 7 mins read
Canada Economics Weekly Signs of stability rather than green shoots for housing The local real estate board data for April were encouraging, with sales rebounding across the major cities and prices stabilising in Toronto after a long stretch of declines. Nonetheless, with the... 8th May 2026 · 5 mins read
Canada Rapid Response Canada Labour Force Survey (Apr 2026) The rise in the unemployment rate to a six-month high of 6.9% has trimmed investors’ overly hawkish interest rate expectations and supports our view that, with the labour market in a funk and a... 8th May 2026 · 2 mins read
US Rapid Response US Employment Report (Apr. 2026) The solid 115,000 rise in payroll employment in April and still-muted 4.3% unemployment rate add to the reasons for the Fed to remain on hold for now. The reduced reliance of hiring on healthcare in... 8th May 2026 · 3 mins read
UK Economics Weekly Political change won’t alter economic and fiscal constraints Once a fuller picture of the results emerges later today and tomorrow, yesterday’s local elections could be historic as it could bring an end to Starmer’s tenure as Prime Minister and highlight that... 8th May 2026 · 6 mins read
UK Economics Update What would a new PM mean for the UK economy and markets? With Starmer’s premiership looking on the precipice, we are resending this analysis we published on Friday 8th May that highlights the main policies of his potential replacements and what they might... 8th May 2026 · 10 mins read
US Rapid Response US Section 122 Tariff Ruling The narrow Court of International Trade (CIT) ruling against the Trump administration’s 10% Section 122 tariffs does not have any immediate implications for the US effective tariff rate, but it raises... 8th May 2026 · 3 mins read
UK Housing Market Rapid Response UK Halifax House Prices (Apr. 2026) The small fall in the Halifax measure of house prices in April suggests the housing market has been less resilient to the jump in mortgage rates triggered by the Iran war than the alternative... 8th May 2026 · 3 mins read
Japan Economics Weekly Risks remain tilted towards BoJ holding its fire We suspect the Bank of Japan won't read too much into the slowdown in core inflation in Tokyo in April, nor will it see the recent rally in the yen as a precursor to softer imported inflation. However... 8th May 2026 · 4 mins read
Australia & New Zealand Economics Weekly Spending growth set to slow regardless of Budget While Treasurer Jim Chalmers has indicated that the government will unveil large savings in the upcoming Budget, most of those will probably be used to finance higher spending. The key point though is... 8th May 2026 · 5 mins read
Japan Rapid Response Japan Labour Cash Earnings (Mar. 26) While wage growth softened a little in March, it remains strong enough to prompt the Bank of Japan to hike rates as soon as downside risks from the Iran War start to abate. 8th May 2026 · 2 mins read
