Europe Commercial Property Update Will QE provide a boost to Frankfurt office occupier demand? The ECB’s QE programme will be a modest boon for some financial firms. And it should help to sustain the recent rise in financial sector confidence. In turn, that should feed through into occupier... 19th March 2015 · 1 min read
Global Economics Update World economy should be able to cope with Fed tightening Concerns about the global impact of tighter Fed policy are likely to resurface later this year, but we think these worries are exaggerated. Even if rates are hiked, US monetary policy will remain... 19th March 2015 · 1 min read
Commodities Update Fed tightening still a near-term threat, but can be offset The gains in commodity prices after yesterday’s dovish statement could soon be more than reversed if the Fed presses ahead and raises rates earlier than the markets now expect, especially if the... 19th March 2015 · 1 min read
Global Markets Update What to make of the Fed’s new projections Downward revisions to FOMC participants’ projections for the federal funds rate have triggered a significant rally in Treasuries and taken some heat out of the dollar. But our expectation is that the... 19th March 2015 · 1 min read
Europe Economics Update Norway’s central bank holds rates, but cuts still lie ahead The Norges Bank unexpectedly left its policy rate on hold at 1.25% today but with the economic situation set to deteriorate, we think that the Norges Bank will be forced to cut rates at its next... 19th March 2015 · 1 min read
Europe Economics Update SNB will have to act against the franc before long The Swiss National Bank’s decision to leave its deposit rate at -0.75% presumably reflects the slight softening of the franc over recent weeks. But we expect renewed upward pressure on the currency to... 19th March 2015 · 1 min read
Asia Economics Update Asia does not need to follow the Fed's lead The first rate hike in the US looks to be only a matter of months away. But local factors, not the actions of the US Federal Reserve, will determine the next moves by Asia's central banks. 19th March 2015 · 1 min read
Nordic & Swiss Economics Update SNB will have to act against the franc before long The Swiss National Bank’s decision to leave its deposit rate at -0.75% presumably reflects the slight softening of the franc over recent weeks. But we expect renewed upward pressure on the currency to... 19th March 2015 · 1 min read
US Economics Update Fed drops "patient" but also lowers rate projections Although the Fed dropped its pledge that it could be "patient" in beginning to normalise monetary policy, paving the way for a June lift-off, the substantial downgrades to the interest rate forecasts... 18th March 2015 · 1 min read
Europe Economics Update Krona’s rise forces Sweden’s Riksbank to ease policy again The Swedish Riksbank unexpectedly loosened monetary policy further today, citing the deflationary risks from the stronger krona, and said it was prepared to do more if needed. With the ECB’s QE likely... 18th March 2015 · 1 min read
Africa Economic Outlook A difficult year ahead A confluence of domestic and external factors will cut Sub-Saharan Africa’s economic growth in 2015 to its slowest rate this century. Low commodity prices will reduce export earnings and force fiscal... 18th March 2015 · 1 min read
UK Data Response MPC Minutes (Mar.) & Labour market (Jan./Feb.) The latest labour market figures were a bit disappointing, but there was enough good news for the Chancellor to trumpet in his Budget later today. Meanwhile, the latest MPC minutes echoed Governor... 18th March 2015 · 1 min read
Europe Economics Update Iceland’s Sedlabanki holds rates but will hike later this year Iceland’s central bank left its main interest rates on hold today as it waits to judge the outcome of the ongoing wage negotiations. But with labour market tensions growing and the Sedlabanki raising... 18th March 2015 · 1 min read
Middle East & North Africa Economics Update Floating currencies in the Gulf a long way off Recent calls for the Gulf countries to ditch their dollar pegs and allow their currencies to float are likely to fall on deaf ears. While there are some arguments in favour of shifting to more... 18th March 2015 · 1 min read
Nordic & Swiss Economics Update Krona’s rise forces Sweden’s Riksbank to ease policy again The Swedish Riksbank unexpectedly loosened monetary policy further today, citing the deflationary risks from the stronger krona, and said it was prepared to do more if needed. With the ECB’s QE likely... 18th March 2015 · 1 min read
Nordic & Swiss Economics Update Iceland’s Sedlabanki holds rates but will hike later this year Iceland’s central bank left its main interest rates on hold today as it waits to judge the outcome of the ongoing wage negotiations. But with labour market tensions growing and the Sedlabanki raising... 18th March 2015 · 1 min read
