Middle East & North Africa Economics Update Saudi households to be a weak spot in 2018 The Saudi government looks set to loosen fiscal policy this year which should support a pick-up in economic growth. However, as we explain in this Watch, households won’t be net beneficiaries from... 12th January 2018 · 1 min read
Latin America Data Response Brazil Consumer Prices (Dec.) The rise in Brazilian inflation to 3.0% y/y last month leaves it right at the lower bound of the central bank’s 4.5±1.5% target range, which should provide room for a further 25bp cut in the Selic... 10th January 2018 · 1 min read
Nordic & Swiss Data Response Norwegian and Danish Consumer Prices (Dec.) Despite December’s jump in inflation in Norway, underlying price pressures remain subdued. With house price inflation falling further into negative territory, we suspect that it will be a long time... 10th January 2018 · 1 min read
Middle East & North Africa Data Response Egypt Consumer Prices (Dec.) A further sharp drop in Egyptian inflation in December means that the central bank is likely to embark on an easing cycle at the next monetary policy meeting in February. We expect inflation and... 10th January 2018 · 1 min read
China Data Response Consumer & Producer Prices (Dec.) Inflation ended 2017 on a softer note, with a decline in both producer price inflation and non-food consumer price inflation. This is consistent with our view that cooling price pressures will open... 10th January 2018 · 1 min read
Europe Chart Pack Economy shrugging off euro’s rise At the start of January, the euro reached a three-year high against the US dollar and a three-and-a-half year high in trade-weighted terms. While the euro’s climb over the past year or so may seem... 9th January 2018 · 1 min read
US Economics Update Surveys point to a pick-up in wage pressures in 2018 Small firms remain optimistic about the outlook, but tighter labour market conditions are becoming an increasing constraint on expansion. That points to a pick-up in wage pressures and continued... 9th January 2018 · 1 min read
Japan Data Response Consumer Confidence (Dec.) Households remained in high spirits in December which suggests that Q3’s drop in consumer spending wasn’t repeated last quarter. 9th January 2018 · 1 min read
Australia & New Zealand Economics Update New Zealand - Our key calls for 2018 and some possible shocks 2018 is widely expected to be the year that the Reserve Banks of Australia and New Zealand start to raise interest rates from their record lows. We disagree. In this Update, we outline five of our non... 9th January 2018 · 1 min read
Japan Data Response Labour Cash Earnings (Nov.) Regular earnings probably rose at the fastest pace in two decades last year. Yet the pace of improvement remains woefully slow so the Bank of Japan’s 2% inflation target remains out of reach. 9th January 2018 · 1 min read
Canada Economics Update Businesses shrugging off NAFTA uncertainty The improvement in business sentiment in the fourth quarter of last year, most notably the marked rebound in investment and hiring intentions, suggest that the increased uncertainty around NAFTA isn’t... 8th January 2018 · 1 min read
Latin America Data Response Chile Consumer Prices (Dec.) The rise in Chilean inflation in the final month of 2017, to 2.3% y/y, was driven largely by an increase in food inflation – core inflation rose only marginally and remained below the central bank’s... 8th January 2018 · 1 min read
Nordic & Swiss Data Response Swiss Consumer Prices (Dec.) While Swiss headline inflation was unchanged in December, there was a welcome rise in the core rate. But the big picture is that inflationary pressures remain subdued, so the Swiss National Bank will... 8th January 2018 · 1 min read
US Economics Weekly Investment boom should continue in 2018 Business investment enjoyed a strong resurgence last year, particularly in the second half. Our estimates imply that business investment increased by 7.5% annualised in the fourth quarter, the biggest... 5th January 2018 · 1 min read
Europe Data Response Euro-zone Flash CPI (Dec.) With euro-zone headline inflation falling in December and core inflation still subdued, the ECB will continue to emphasise that interest rate hikes remain a long way off. 5th January 2018 · 1 min read
China Economics Update Inflation set to jump We expect consumer price inflation to surge over the coming months on the back of a spike in food price inflation. However, with core inflation probably close to a peak and producer price inflation... 5th January 2018 · 1 min read
