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
Nordic & Swiss Economics Update Norway rate cut off the table, but a long way from rate hikes The Norges Bank revised up its forecast for interest rates this year, so a cut now looks unlikely. But while the Bank expects to raise its policy rate in 2019, we think that it will be unchanged until... 22nd June 2017 · 1 min read
India Chart Pack RBI wields new powers The Reserve Bank of India (RBI) has started to put to use its new powers to clean up the banking sector. Earlier this month it instructed several commercial banks to begin insolvency proceedings... 22nd June 2017 · 1 min read
Africa Data Response South Africa CPI (May) Inflation in South Africa ticked up in May, but we still expected that inflation will ease later this year, prompting the Reserve Bank to cut its key policy rate by a total of 50bps. 21st June 2017 · 1 min read
Nordic & Swiss Data Response Swedish Economic Tendency Survey (Jun) The Swedish Economic Tendency Indicator points to strong and broad-based growth, consistent with an acceleration in wage growth and a pick-up in underlying inflation. 21st June 2017 · 1 min read
Australia & New Zealand Data Response Australia ABS House Prices (Q1) The first quarter of this year will probably go down in history as the point at which house price inflation peaked. Policymakers have engineered the slowdown that appears to be underway, but there’s... 20th June 2017 · 1 min read
Europe Economics Weekly Slow wage growth underscores need for policy support The latest labour market data paint a positive picture of employment conditions in the euro-zone. Indeed, in Q1 the level of euro-zone employment finally surpassed its pre-crisis peak. What’s more... 16th June 2017 · 1 min read
