Canada Chart Pack Housing imbalances continue to worsen Nothing illustrates the regional divergence in Canada’s economy like housing. While house prices continue to surge in the already most over-valued markets in Vancouver and Toronto, Calgary and other... 10th February 2016 · 1 min read
US Economics Update Yellen sticks to view that interest rates will rise gradually Fed Chair Janet Yellen’s testimony to Congress today revealed that, while the FOMC might not be ready to raise interest rates for a second time in March, she still anticipates a “gradual” series of... 10th February 2016 · 1 min read
Japan Chart Pack Yen strengthens despite shift to negative rates The Bank of Japan’s decision to cut the interest rate on some excess reserves below zero initially delivered a slide in the exchange rate and a rise in equities. But these shifts soon reversed and the... 10th February 2016 · 1 min read
Europe Economics Update Icelandic rates on hold but more policy tightening to come Although Iceland’s central bank decided today to keep its key interest rates unchanged again, upward inflation pressures and domestic economic strength mean that rate hikes are likely later this year... 10th February 2016 · 1 min read
Australia & New Zealand Economics Update Our key calls Our full analysis of the prospects for the Australian and New Zealand economies is contained in our Australia & New Zealand Economic Outlook (sent to clients on 27th January), but in this note we... 10th February 2016 · 1 min read
Nordic & Swiss Economics Update Icelandic rates on hold but more policy tightening to come Although Iceland’s central bank decided today to keep its key interest rates unchanged again, upward inflation pressures and domestic economic strength mean that rate hikes are likely later this year... 10th February 2016 · 1 min read
Latin America Economics Update Zika virus unlikely to have major economic impact The Zika virus has hit the headlines in recent weeks due to its rapid spread across Latin America and the suspected link with thousands of cases of serious birth defects in Brazil. But, while it is... 9th February 2016 · 1 min read
Global Economics Update Should we expect more monetary policy U-turns? Experience since 2009 shows that the current crop of central bankers do not hesitate to change course if they think that is the right thing to do. Indeed, central banks in numerous advanced economies... 9th February 2016 · 1 min read
Latin America Data Response Chile Consumer Prices (Jan.) The surge in Chilean inflation in January was largely due to planned tax increases and had been anticipated. As such, we don’t expect it to a trigger a policy response from the central bank and... 8th February 2016 · 1 min read
Canada Economics Weekly Negative interest rates unlikely in Canada While negative interest rate policies are being adopted by some major central banks, economic growth and inflation in Canada will be buffered by fiscal policy stimulus and the past depreciation of the... 5th February 2016 · 1 min read
US Economics Weekly Yellen will reiterate “wait and see” message In her semi-annual testimony to Congress this week (to the House on Wednesday and the Senate on Thursday), Fed Chair Janet Yellen is unlikely to say that a March rate hike is completely off the table... 5th February 2016 · 1 min read
UK Economics Weekly EU referendum will delay rate hike, but not until 2018 The draft EU deal published last week has left the “Brexit” referendum looking likely to occur in June this year. What’s more, on the basis of the latest polls, it looks set to be a close vote. That... 5th February 2016 · 1 min read
Europe Economics Weekly Oil price falls will depress inflation for some time yet Euro-zone consumer price inflation looks likely to pick up later this year, driven by the fading direct effect of lower oil prices and the feed-through of previous falls in the euro to consumer prices... 5th February 2016 · 1 min read
India Economics Update Budget proposals could stoke price pressures Inflation is likely to have risen at the start of 2016 on account of a further small rise in food inflation. Looking ahead, the FY16/17 budget is likely to incorporate a significant rise in public... 5th February 2016 · 1 min read
Japan Economics Weekly Will negative rates lower bank lending rates? The introduction of a negative interest rate on a small portion of excess reserves has already reduced corporate bond yields, and we think that banks may also lower lending rates somewhat. However... 5th February 2016 · 1 min read
Australia & New Zealand Economics Update RBA holds its nerve on global economy The Reserve Bank of Australia’s February Statement on Monetary Policy confirms that the chances of a near-term reduction in interest rates remains slim. Nonetheless, there are a number of factors that... 5th February 2016 · 1 min read
