Japan Economics Update Monetary Indicators Monitor (Mar.) The Bank of Japan now owns more Japanese government bonds than private pension funds and insurance companies combined. However, with the government pension fund continuing to shed bonds, and usage of... 14th April 2015 · 1 min read
Europe Economics Update Is loose monetary policy inflating bubbles in Germany? With the ECB’s quantitative easing programme putting upward pressure on German asset prices in particular, some point to a risk of bubbles developing there. We think the greater risk is that such... 13th April 2015 · 1 min read
Canada Economics Weekly Weaker currency will partly cushion hit from low oil prices The Canadian dollar, which has slumped in response to low oil prices, weakening domestic fundamentals and an easing in monetary policy, probably still has further to fall. An even weaker currency... 13th April 2015 · 1 min read
US Economics Weekly Fed tightening pace dependent on market reaction New York Fed President William Dudley noted last week that the pace of rate hikes will depend a lot on the reaction to the initial lift-off in financial markets. The upshot is that, while there is an... 10th April 2015 · 1 min read
Asia Economics Weekly Singapore looks set for more policy loosening We expect the Monetary Authority of Singapore (MAS) to loosen policy again at its meeting on Tuesday, most likely by re-centring its target band for the exchange rate to allow some depreciation. But... 10th April 2015 · 1 min read
Latin America Economics Update Peru signals end of easing cycle Interest rates in Peru were left unchanged last night and a subtle shift in language in the statement accompanying the decision suggests that policymakers appear to have closed the door to further... 10th April 2015 · 1 min read
ECB Watch ECB to downplay early taper talk The ECB’s quantitative easing programme has got off to a solid start with the Bank buying the planned quantity of assets and financial markets responding positively. And with the recovery seeming to... 9th April 2015 · 1 min read
Asia Economic Outlook Most of Emerging Asia set for faster growth Most economies in Emerging Asia are likely to record decent growth over the next couple of years. However, with the pace of expansion in the region’s biggest economy, China, set to ease further in... 9th April 2015 · 1 min read
Emerging Europe Economics Update Hungary’s Sunday trading ban symbolic of reform backsliding The decision taken by the Hungarian government to ban Sunday trading is unlikely to have a major impact on the economy at an aggregate level. But as we explain in this Watch, it may lead to a shift in... 9th April 2015 · 1 min read
UK Economics Update MPC to leave rates on hold for at least another year The MPC left policy unchanged this month against a backdrop of looming deflation. The recent rise in the pound, weakening in the inflation outlook, softer US news and sharper planned government... 9th April 2015 · 1 min read
Global Economics Update Wealth effects in euro-zone and Japan will be small Quantitative easing in the euro-zone and Japan has provided a big boost to equity markets which in turn should bolster household wealth. But barring a major recovery in the housing market, the impact... 9th April 2015 · 1 min read
Middle East & North Africa Economics Update Assessing the impact of a potential nuclear deal with Iran There are many details that still need to be ironed out, but earlier this month Iran and the West moved another step closer to securing an agreement over Tehran’s nuclear programme. As we explain in... 9th April 2015 · 1 min read
Asia Economics Update Rising financial risks to deter aggressive rate cuts in Korea The Bank of Korea (BoK) held its policy rate at 1.75% today, following a rate cut last month. The slow pace of recovery has raised speculation of further monetary policy loosening, but we think... 9th April 2015 · 1 min read
Europe Economic Outlook Recovery prospects clouded by Greece Recent indicators have brought signs of a renewed recovery in the euro-zone economy, reflecting the beneficial effects of lower oil prices and the decline in the euro exchange rate. But the picture... 8th April 2015 · 1 min read
Global Economics Chart Pack Global growth to recover after weak Q1 For a second successive year, global GDP growth dropped sharply in Q1 due to a slowdown in the US and China. But business surveys, which may be a better gauge of the underlying health of the economy... 8th April 2015 · 1 min read
Japan Economics Update Bank of Japan still likely to expand QQE later this month The Bank of Japan left policy settings unchanged today and Governor Kuroda indicated that the Board doesn’t see the need for additional stimulus at the moment. However, Mr Kuroda has a record of... 8th April 2015 · 1 min read
