Emerging Europe Data Response Manufacturing PMIs (Jun.) & Turkey CPI (Jun.) Last month’s batch of manufacturing PMIs in Emerging Europe suggest that growth in Central Europe remained robust at the end of Q2, while Turkey’s economy strengthened. Meanwhile, the sharper-than... 3rd July 2017 · 1 min read
Canada Economics Weekly Bank can’t ignore low inflation The Bank of Canada’s recent hawkishness doesn’t fit with the weaker core inflation data. Amid further warnings from the BIS about the dangers of sticking too closely to inflation targets when asset... 30th June 2017 · 1 min read
Middle East & North Africa Chart Pack Politics rocks the Gulf Political developments have dominated the news in the MENA region this month. In Qatar, financial markets have sold off amid a diplomatic spat with regional powers. So far, though, the broader... 30th June 2017 · 1 min read
Japan Data Response Ind. Prod., H’H Spending, Unempl. & Cons. Prices (May) Today’s activity data suggest that industrial production expanded at a decent pace in the second quarter. However, consumer spending appears to have eased a touch last month, while price pressures... 30th June 2017 · 1 min read
Latin America Economics Update First thoughts on Brazil’s new inflation target The decision to lower Brazil’s inflation target from 4.5% currently to 4.25% in 2019 and 4.00% in 2020 is clearly a step in the right direction, but it’s worth bearing in mind that inflation targets... 29th June 2017 · 1 min read
Europe Data Response German & Spanish Flash CPI (Jun.) June’s rise in German HICP inflation and a sharper fall in the Spanish rate suggest that euro-zone inflation probably edged down from May’s 1.4%. German core inflation is now rising, but underlying... 29th June 2017 · 1 min read
Nordic & Swiss Economics Update Is below-target inflation in Norway a problem? The Norges Bank’s latest projections suggest that it is unwilling, or unable, to loosen policy by enough to hit its inflation target. This will weigh on economic growth over the coming years, and... 28th June 2017 · 1 min read
Latin America Economics Focus Argentina: rate cuts coming, but easing to be gradual The sharp drop in Argentine inflation to an 18-month low in May is likely to prompt the central bank to shift into easing mode over the coming quarters. But with core inflation likely to be slow to... 23rd June 2017 · 1 min read
Canada Data Response Consumer Prices (May) While the drop in the headline inflation rate to 1.3% in May, from 1.6%, can be partly explained by lower energy price inflation, the decline in certain core inflation measures are weaker than most... 23rd June 2017 · 1 min read
Emerging Europe Economics Update Falling oil prices will keep inflation subdued for longer The recent fall in oil prices will keep EM inflation close to its current multi-year low for longer, but it won’t trigger a collapse in inflation. 23rd June 2017 · 1 min read
Latin America Data Response Brazil IPCA-15 (Jun.) The drop in Brazilian inflation in the first half of June to a fresh decade-low of 3.5% y/y, is Brazilian inflation has fallen below the BCB’s central target for the first time in almost seven years... 23rd June 2017 · 1 min read
UK Economics Weekly Is the rift between MPC members growing? After a surprisingly large split in the vote at June’s Monetary Policy Committee meeting, two speeches this week provided further signs of a growing rift on the Committee. Indeed, the fact that Andy... 23rd June 2017 · 1 min read
Japan Data Response Flash Manufacturing PMI (Jun.) Even though the manufacturing PMI fell rather sharply in June, it still points to a robust expansion in industrial output. What’s more, today’s survey suggests that price pressures continue to... 23rd June 2017 · 1 min read
Australia & New Zealand Economics Weekly All Blacks to beat British Lions in economic tests If the relative performance of the economies of New Zealand and the UK/Ireland over the next few years is anything to go by, the All Blacks will beat the British & Irish Lions 2-1 in the rugby test... 23rd June 2017 · 1 min read
Global Economics Update Central bankers will stick to 2% inflation targets for now Janet Yellen’s remarks about the case for reconsidering the Fed’s inflation target have generated some attention this week. But in practice, there is little prospect of the inflation target being... 22nd June 2017 · 1 min read
Latin America Data Response Mexico Bi-Weekly CPI (Jun.) The rise in Mexican inflation in the first half of June probably seals the deal for another 25bp hike in the central bank’s policy interest rate, to 7.00%, later today. But there are also signs that... 22nd June 2017 · 1 min read
