China Chart Pack China Chart Pack (June 25) China’s economy slowed in May, with US tariff starting to take a toll on exports. And while consumer spending has picked up recently, that’s largely been driven by temporary subsidies from the... 27th June 2025 · 0 mins read
China Economic Outlook China Outlook: Fiscal prop to fade as exports slow Exports would almost certainly have weighed on China’s growth whatever happened this year, but US tariffs – even at their reduced rate – will worsen the drag. Fiscal support has been propping up... 25th June 2025 · 16 mins read
Global Economics Chart Pack Global Economics Chart Pack (Jun. 2025) The latest data suggest that the boost to industry and trade from businesses front-running US tariffs is over. Manufacturing activity softened in April and May, and new orders have weakened. While... 24th June 2025 · 1 min read
China Rapid Response China Bank Lending & Broad Credit (May.) Bank loan growth continued to slow last month, but broad credit growth held steady, thanks to the continued strength of non-bank borrowing. With deflation keeping real lending rates elevated, despite... 13th June 2025 · 2 mins read
Global Economics Focus CBDCs: evolution, not revolution Many central banks, especially in DMs, appear unconvinced about the need for retail central bank digital currencies CBDCs (rCBDCs) and so a big revolution in the monetary system seems unlikely. There... 5th June 2025 · 19 mins read
Global Economics Chart Pack Global Economics Chart Pack (May 2025) The latest data confirm that the world economy got off to a weak start this year. World trade has been one bright spot, as firms attempt to front-run tariffs. But business surveys have softened, and... 29th May 2025 · 1 min read
Middle East & North Africa Economics Update Should we be worried about the UAE’s credit boom? Credit growth in the UAE has boomed, fuelling a sharp rise in property prices, particularly in Dubai. Prices are now at risk of a correction which, in the past, has fed into banking and debt worries... 20th May 2025 · 4 mins read
Bonds & Equities Back to square one? Taking stock of the trade war roundtrip One month on from the peak of the post-“Liberation Day” market turmoil, calm has largely returned and most key asset markets have recovered much, or all, of the ground lost in the days following 2nd... 15th May 2025 · 4 mins read
Middle East & North Africa Chart Pack Middle East & North Africa Chart Pack (May '25) Our Middle East & North Africa Chart Pack has been updated with the latest data and our analysis of recent developments. The decision by OPEC+ to follow up May’s faster rise in oil production with a... 15th May 2025 · 1 min read
China Rapid Response China Bank Lending & Broad Credit (Apr.) Bank loan growth resumed its slowdown last month, but broad credit growth continued to accelerate on the back of a surge in government bond issuance. While monetary easing should help drive up private... 14th May 2025 · 2 mins read
UK Economics Rapid Response UK Money & Lending (Mar. 2025) March’s money and lending data suggest households were starting to spend more cautiously even before the full hit to consumer confidence from the heightened uncertainty caused by the new US tariffs... 1st May 2025 · 3 mins read
Emerging Markets Financial Risk Monitor EM Financial Risk Monitor (Apr. 2025) Higher US import tariffs and softening expectations for global growth have caused large capital outflows from EMs. But our currency crisis risk indicators suggest that EMs are well placed to weather... 30th April 2025 · 1 min read
Japan Economics Focus Japanese bank outperformance has a bit further to go Japanese banks are the one sector benefitting from the BoJ’s tightening cycle as higher interest rates lift their income by more than their expenses. And although they’ve struggled more recently amid... 30th April 2025 · 19 mins read
Global Economics Update Advanced economy financial conditions on the mend The recent reduction in equity market volatility has reversed most of the tightening in our market-based narrow Financial Conditions Indices for advanced economies. Our broad FCIs, which also... 28th April 2025 · 4 mins read
Middle East & North Africa Economics Update Saudi’s non-oil sector unlikely to sustain strong start Saudi Arabia’s economy enjoyed a relatively strong start to the year underpinned by its non-oil sector. But while GDP growth will accelerate this year as oil output rises, the coinciding slip in oil... 28th April 2025 · 3 mins read
Europe Economics Update EZ bank lending in decent shape before US tariff shock The ECB’s Bank Lending Survey paints a positive picture of the housing market. Conditions for consumer credit and corporate loans were less encouraging, and the tariff chaos of the past two weeks... 15th April 2025 · 2 mins read
