Europe Chart Pack Europe Chart Pack (November 2025) We expect euro-zone GDP growth to remain fairly slow in the coming years. Germany’s fiscal stimulus should provide a temporary and fairly modest boost, and we don’t think it will do much to raise... 6th November 2025 · 1 min read
Europe Rapid Response Norges Bank Policy Announcement (November 2025) Today’s decision to leave the policy rate at 4.0% came as no surprise and policymakers are clearly in no rush to cut interest rates again. We have pencilled in the next reduction for March, but the... 6th November 2025 · 2 mins read
Europe Economics Update Sweden’s inflation rate to fall sharply in 2026 CPIF inflation is set to fall temporarily to around 1% in 2026, largely due to the impact of cuts to VAT on food and taxes on electricity. But the Riksbank is unlikely to cut its policy rate further... 6th November 2025 · 3 mins read
Japan Chart Pack Japan Chart Pack (Nov. 25) Our Japan Chart Pack has been updated with the latest data and our analysis of recent developments. GDP growth will slow from its current above-trend rate to a more sustainable pace. However, with... 6th November 2025 · 1 min read
Emerging Europe Rapid Response Emerging Europe Manufacturing PMIs (Oct.) The weak manufacturing PMIs out of Emerging Europe in October, at face value, signal further difficulties for the region’s industrial sectors. But the PMIs haven’t been the most reliable guide to the... 3rd November 2025 · 2 mins read
Emerging Europe Rapid Response Turkey Consumer Prices (Oct. 2025) The fall in Turkish inflation last month, to 32.9% y/y, will provide some comfort to policymakers after the road bump in the disinflation process in September and keeps the door open for monetary... 3rd November 2025 · 2 mins read
Europe Rapid Response Swiss CPI (October) The slight fall in Swiss headline inflation in October will come as a big surprise to the SNB, which expected inflation to increase markedly in the fourth quarter. However, we think that inflation is... 3rd November 2025 · 2 mins read
Australia & New Zealand Chart Pack ANZ Chart Pack (Nov. 2025) Recent developments reinforce the divergent outlooks for the Antipodean economies. The RBA has cut rates by just 75bp so far. Given the relative resilience of the Australian economy and ongoing signs... 3rd November 2025 · 1 min read
Emerging Europe Economics Weekly Czech strength, Russia banking risks, NBP meeting Data released this week suggest that the Czech economic recovery is continuing to gather momentum. The risks to our GDP growth forecasts there have shifted to the upside and the central bank's easing... 31st October 2025 · 6 mins read
Europe Economics Weekly France & Spain: same budget impasse, diverging debt Governments in France and Spain are both struggling to get 2026 budgets through parliament and significant fiscal consolidation is unlikely in either country. But while France’s debt ratio will trend... 31st October 2025 · 9 mins read
Europe Rapid Response Euro-zone HICP (October 2025) The small drop back in inflation in October was expected and was driven by a further fall in energy and food inflation. We think both headline and core inflation are likely to fall below 2% in the... 31st October 2025 · 2 mins read
Japan Economics Weekly BoJ on course for January rate hike While the Bank of Japan left policy settings unchanged this week, Governor Ueda signaled that the Board won’t wait much longer before resuming its tightening cycle. Indeed, with structural labour... 31st October 2025 · 4 mins read
Australia & New Zealand Economics Weekly RBA on an extended pause, but easing cycle not over With underlying inflation in Australia having surprised materially to the upside in Q3, the RBA is all but certain to leave rates unchanged next week. However, unlike several other analysts we're not... 31st October 2025 · 5 mins read
Europe Economics Update Norges Bank to hold steady Norway’s economic data have been a touch weaker than Norges Bank expected recently, but not by enough to prompt a rate cut next week. We’re forecasting the next cut in March 2026. 30th October 2025 · 2 mins read
Europe Economics Update ECB giving nothing away The ECB’s decision to leave its deposit rate unchanged at 2.0% and offer no guidance on future rate decisions was as expected. The Bank is likely to take the same approach at forthcoming meetings too... 30th October 2025 · 3 mins read
China Chart Pack China Chart Pack (Oct. 25) While growth picked up in Q3, our China Activity Proxy still suggests that the economy is expanding at a much weaker pace than official figures indicate. Export growth has continued to hold up well in... 30th October 2025 · 0 mins read
