Latin America Economics Update Still no sign of a ceasefire in Brazil's 'currency war' If recent evidence is anything to go by, Brazil’s latest effort to stem the rise in the real is unlikely to have a lasting impact on the markets. While rising inflation should mean that the... 7th April 2011 · 1 min read
Latin America Economics Focus Taking stock of Argentina's inflation problem The IMF is in Buenos Aires this week on its second technical mission to assist the development of a new inflation index. It is difficult to accurately assess the starting point for discussions, but... 6th April 2011 · 1 min read
Europe Economics Weekly Inflation worries will ease in time Last week’s major euro-zone data releases will have done nothing to ease the ECB’s fears about inflation. March’s rise in headline CPI inflation will be particularly worrying, given that it may have... 4th April 2011 · 1 min read
Europe Data Response Euro-zone Flash CPI (Mar.) March’s euro-zone inflation figures increased the likelihood that next week’s ECB rate hike will not be a one-off. But the weakness of underlying price pressures in the region suggests that a major... 31st March 2011 · 1 min read
Europe Data Response German Flash CPI (Mar.) The latest German CPI inflation numbers are unlikely to provide the ECB with a great deal of comfort. Accordingly, it remains virtually inevitable that the Bank pushes ahead with its April interest... 29th March 2011 · 1 min read
Japan Chart Pack Economy fragile even before disaster struck Recent economic data releases have of course been overtaken by the tragedy of the earthquake and tsunami that hit Japan on 11 th March. This edition of our monthly chart book has therefore turned out... 24th March 2011 · 1 min read
UK Data Response Consumer Prices & Public Finances (Feb.) February’s public finances and consumer prices numbers presented a distinctly unfavourable backdrop to tomorrow’s Budget. 22nd March 2011 · 1 min read
Canada Economics Weekly Underlying inflation will remain muted Although the past run-up in agricultural commodity prices will push food prices and headline CPI inflation somewhat higher later this year, we also predict that measures of underlying CPI inflation... 21st March 2011 · 1 min read
US Economics Weekly Fed won't be swayed by higher inflation The statement issued after last week's FOMC meeting made it pretty clear that the Fed wouldn't be rushing to tighten policy in response to the recent surge in commodity prices, at least not while core... 21st March 2011 · 1 min read
Canada Data Response Consumer Price Index (Feb.) The modest dip in inflation in February was largely due to some strong base year effects, stemming from the spike in prices during last year's winter Olympic Games. We still expect headline CPI... 18th March 2011 · 1 min read
Nordic & Swiss Economics Update SNB interest rate hike not around the corner Despite growing domestic price pressures, the Swiss National Bank left its interest rate target at 0.25% at today’s meeting. While the Bank’s tone was a bit more upbeat than expected, the inflation... 17th March 2011 · 1 min read
US Data Response CPI, Industrial Prod'n (Feb.) & Philly Fed (Mar.) Higher headline CPI inflation and the strength of the manufacturing recovery are not going to sway the Fed when core inflation remains muted and other sectors of the economy, notably housing, are... 17th March 2011 · 1 min read
Latin America Economic Outlook The return of inflation? The growth outlook for Latin America remains good but inflation looks set to accelerate over the coming quarters. Further policy tightening is likely in most countries, although in most cases the... 16th March 2011 · 1 min read
US Data Response PPI, Housing Starts (Feb.) & Current Account (Q4) The surge in PPI inflation won't sway the Fed. It has already said that it expects the commodity-related upturn will be "transitory". With core PPI inflation still low and the economic recovery... 16th March 2011 · 1 min read
Europe Data Response Euro-zone CPI (Final, Feb.) & Labour Costs (Q4.) February’s final euro-zone CPI inflation figures revealed that the rise in the headline rate was once again down to energy and food. With core inflation still very subdued and global concerns building... 16th March 2011 · 1 min read
Emerging Europe Economics Update Weak inflation data give boost to Poland's doves Slower-than-expected inflation in Poland last month means that an increase in interest rates at the Monetary Council’s April meeting is not quite the done deal that the markets seem to expect. What’s... 15th March 2011 · 1 min read
