India Chart Pack Rollout of GST is edging closer Progress in implementing the Goods and Services Tax (GST) since the bill was passed in parliament in early August has so far been fairly smooth. However, there are still a number of sticking points... 21st September 2016 · 1 min read
Europe Economics Update SNB on hold, but set to renew currency interventions The Swiss National Bank’s decision to leave policy on hold came as no surprise as easing Brexit fearsand the ECB’s inaction have led upward pressure on the franc to abate. But the SNB made clear that... 15th September 2016 · 1 min read
Nordic & Swiss Economics Update SNB on hold, but set to renew currency interventions The Swiss National Bank’s decision to leave policy on hold came as no surprise as easing Brexit fears and the ECB’s inaction have led upward pressure on the franc to abate. But the SNB made clear that... 15th September 2016 · 1 min read
US Fed Watch Fed unlikely to hike rates again before December It is always possible that the Fed could surprise us with an unexpected rate hike next week, but we very much doubt that will happen, it just doesn’t fit Chair Janet Yellen’s more cautious style. At... 14th September 2016 · 1 min read
China Data Response Bank Lending & Broad Credit (Aug.) A renewed pick-up in credit growth last month will add to the growing sense among investors that the near-term outlook for China’s economy is fairly bright. Credit growth is still likely to slow over... 14th September 2016 · 1 min read
Asia Economics Update Thailand holds policy rate, but easing can’t be ruled out The Bank of Thailand (BoT) left its policy rate unchanged at 1.50% today, but with growth set to slowand inflationary pressures very low, further easing is likely in the coming quarters. 14th September 2016 · 1 min read
India Data Response Wholesale Prices (Aug.) Indian wholesale price inflation rose for the seventh consecutive month in August, and is set to accelerate further over the near term. This supports our view that there is little scope for further... 14th September 2016 · 1 min read
Australia & New Zealand Economics Focus Inflation targeting – time for a change? The Reserve Banks of Australia and New Zealand are likely to ignore suggestions that they should lower their inflation targets since that would drive inflation even lower. Targeting nominal GDP growth... 14th September 2016 · 1 min read
Europe Economics Update Should we be worried about low inflation expectations? As euro-zone inflation picks up over the coming months, short-term inflation expectations should rise.But long-term expectations are less responsive to movements in current inflation and are likely... 13th September 2016 · 1 min read
UK Data Response Consumer Prices & Producer Prices (Aug.) August’s stable CPI inflation rate is a temporary pause in an upward trend that should see it rise above the MPC’s target next year. But prospect of above-target inflation probably won’t stop the... 13th September 2016 · 1 min read
Europe Data Response Swedish Consumer Prices (Aug.) Despite weaker-than-expected Swedish inflation in August, price pressures are set to increase in the coming months. And as higher inflation feeds through to inflation expectations, the Riksbank will... 13th September 2016 · 1 min read
Nordic & Swiss Data Response Swedish Consumer Prices (Aug. 16) Despite weaker-than-expected Swedish inflation in August, price pressures are set to increase in the coming months. And as higher inflation feeds through to inflation expectations, the Riksbank will... 13th September 2016 · 1 min read
Global Markets Update Why this isn’t the beginning of the end for EM equities We have warned for some time that emerging market (EM) equities will be more volatile as attention turns back to the Fed. Momentum may yet drive stocks lower in the near term, but we continue to... 12th September 2016 · 1 min read
Emerging Markets Economics Update EM economies now less vulnerable to US rate hikes The sudden sell-off in EMs that started on Friday, triggered by hawkish comments from the head of the Boston Fed Eric Rosengreen, points to a turbulent period ahead for EM financial markets as the... 12th September 2016 · 1 min read
Global Markets Update Time to dump the junk? Yet another scaling back of investors’ expectations about Fed policy has breathed new life into the rally in emerging market (EM) “junk” bonds. But we suspect that the best days are now behind them... 9th September 2016 · 1 min read
Latin America Data Response Brazil Consumer Prices (Aug.) August’s inflation data are not going to provide any reassurance to Brazilian policymakers that now is the time to begin lowering interest rates. The headline inflation rate rose to a three-month high... 9th September 2016 · 1 min read
