US Economics Update Bernanke further paves the path towards QE3 Fed Chairman Ben Bernanke used his speech at Jackson Hole today to state that unconventional monetary policy does work and that the US needs more of it. It now appears even more likely that at the... 31st August 2012 · 1 min read
Canada Economics Weekly Is Canada's current account deficit sound? Canada's current account deficit is likely to widen due to slower forecast global economic growth and lower commodity prices. That said, the large net financial deficit of households indicates that... 31st August 2012 · 1 min read
Asia Economics Weekly Asia's consumers far from immune to global problems We expect global demand to stay weak in coming quarters and for labour markets and consumer confidence in Asia to soften as a result. Central banks in the region are likely to ease further, which... 31st August 2012 · 1 min read
UK Economics Update Monetary Indicators Monitor (Aug.) Household borrowing recovered in July after it was depressed by temporary factors in June. Nonetheless, the big picture is that borrowing growth remains very weak. 31st August 2012 · 1 min read
ECB Watch Bond purchases on hold, but other measures possible We expect the ECB to disappoint markets this week with its plans for peripheral government bond purchases. President Mario Draghi is likely to state that such purchases will be limited and that they... 30th August 2012 · 1 min read
Emerging Europe Economics Update Slowdown in Poland set to prompt rate cuts Poland remains one of Emerging Europe’s strongest performing economies. But a sharper-than-expected slowdown in Q2 means that it is looking likely that the National Bank will cut interest rates by... 30th August 2012 · 1 min read
Latin America Chart Pack Persistent imbalances in the drivers of growth Growth is still unbalanced in many parts of Latin America. The resilience of domestic demand against a weak global backdrop has helped to bolster service sector activity, even as local industry... 30th August 2012 · 1 min read
Latin America Economics Update Brazil: modest recovery to keep rates lower than most expect The Brazilian Central Bank (BCB) lowered interest rates by a further 50bps last night and hinted that the end of the current easing cycle may now be very close. We think that the consensus expectation... 30th August 2012 · 1 min read
Global Markets Update Has the US stock market fully discounted QE3? We expect any boost to equity prices from the announcement of a third round of quantitative easing (QE3) by the Fed to be much less significant than those that followed the first two rounds. 29th August 2012 · 1 min read
Emerging Europe Economics Update Hungary cuts rates but further easing likely to be limited The National Bank of Hungary’s surprise decision to cut interest rates today suggests that further easing could be on the way. But unless and until an IMF/EU deal is agreed, anything more than a... 28th August 2012 · 1 min read
Bank of Canada Watch Bank of Canada close to dropping hawkish bias The Bank of Canada's policy statement next week is likely to retain its hawkish bias about the need to raise interest rates. Given the faltering global economy and stalling domestic housing market... 28th August 2012 · 1 min read
Europe Economics Update Euro-zone Monetary Indicators Monitor (Jul.) The latest monetary data confirm that the ECB’s earlier liquidity operations have yet to boost lending to the private sector, which will add to the pressure on the Bank to do more. As well as buying... 28th August 2012 · 1 min read
Latin America Economics Update BANREP to continue cutting as growth slows There has been some improvement in the outlook for the Colombian economy in recent weeks, but interest rates will probably still fall further. Indeed, with the euro-zone crisis set to deepen and... 28th August 2012 · 1 min read
UK Commercial Property Chart Pack Capital values hit lowest level in July since May 2010 The economy is now estimated to have shrunk by 0.5% q/q in Q2. But the labour market delivered better news - employment rose strongly in the second quarter. However, inflation ticked up in July, and... 28th August 2012 · 1 min read
US Economics Weekly Fiscal policy stuck between a rock and a hard place Many Fed officials appear increasingly concerned that the uncertainty surrounding the outlook for fiscal policy is already starting to curb household and business spending. Unless Congress acts, a... 24th August 2012 · 1 min read
Asia Economics Weekly What would QE3 mean for Asia? The minutes of the US Federal Reserve’s August meeting strongly suggested that the Fed will embark on a third round of quantitative easing (QE3) in September. This week’s lead article assesses the... 24th August 2012 · 1 min read
