Europe Economics Update Euro-zone Monetary Indicators Monitor (Mar.) March’s euro-zone money and credit data point to steady economic growth. But they remain consistent with subdued core inflation. 28th April 2017 · 1 min read
Japan Economics Weekly Strong credit growth not benefitting economy Private sector debt is growing at the fastest pace in at least two decades, but this boom in credit is not doing much to support demand in the economy. The upshot is that economic activity should hold... 28th April 2017 · 1 min read
India Chart Pack Sensex rises to record highs Indian equities have rallied over the past few months, with the benchmark Sensex stock index hitting an all-time high in early April. This reflects in part a broader pick-up across most major EM... 25th April 2017 · 1 min read
China Economics Update Capital Flows Monitor (Mar.) According to our latest detailed estimates, China’s net capital outflows have been close to zero during the past two months. This is a major shift from late last year when monthly outflows exceeded... 21st April 2017 · 1 min read
Latin America Economics Update Deleveraging well underway, but few signs of financial stress Our latest Banking Heat Map shows that, while Latin America’s credit bubbles have continued to deflate, this doesn’t yet appear to have triggered widespread problems in the region’s banking sectors... 20th April 2017 · 1 min read
China Chart Pack Household credit boom set to slow Household borrowing has soared over recent months, largely in the form of mortgages. But this boom is probably nearing an end. Restrictions on property purchases have been reintroduced in many cities... 20th April 2017 · 1 min read
Emerging Markets Economics Update EM credit divergences should soon start to narrow The broad stability in EM credit growth in recent quarters masks a large divergence between individual countries, with an acceleration in lending in China offset by a contraction in Brazil and Russia... 19th April 2017 · 1 min read
India Economics Update Farmer loan waivers a cause for concern The recent approval of a bailout package for indebted farmers in Uttar Pradesh fulfils an election pledge from the BJP, but should also raise concern. The unconditional debt write-off could set a... 19th April 2017 · 1 min read
Japan Economics Update Monetary Indicators Monitor (Mar.) Bank lending is rising at the fastest pace since 2009, led by non-manufacturing firms. A combination of record-low bank lending rates and extremely loose bank lending attitudes has fuelled the credit... 17th April 2017 · 1 min read
Global Economics Update Money and credit expanding at a healthy pace Global monetary conditions remain supportive for the world economy. In the four major advanced economies, bank lending to both households and non-financial companies is expanding steadily, and... 13th April 2017 · 1 min read
UK Housing Market Data Response RICS Survey (Mar.) & Credit Conditions Survey (Q1) While mortgage availability held up in Q1, data from the Bank of England and the RICS paint a subdued picture for demand. That suggests that a resurgence in house price or activity growth is unlikely... 13th April 2017 · 1 min read
Global Economics Update Are the credit data signalling a slowdown? Aggregate measures of credit growth in advanced economies have slowed sharply in the past month or two. But this is almost entirely due to weakness in the US, which we do not expect to last. What’s... 6th April 2017 · 1 min read
Nordic & Swiss Economics Update How will macro-prudential tools influence monetary policy? Central banks in Switzerland, Sweden and Norway have all voiced concerns about overheating in their housing markets. In Switzerland, macro-prudential policies have already served to cool house price... 5th April 2017 · 1 min read
Japan Data Response Tankan (Q1) While today’s Tankan survey showed that business conditions for large manufacturers did not improve as much as most had anticipated, the survey suggests that growth will remain strong for now. What’s... 3rd April 2017 · 1 min read
China Economics Update Repo rise signals growing concern over credit risks China’s interbank repo rates have fallen back slightly after the headline-grabbing spike last week that took them to their highest in more than two years. But the bigger picture is that the PBOC has... 31st March 2017 · 1 min read
UK Economics Weekly Are consumers’ finances healthy as Brexit begins? Last week’s historic triggering of Article 50 of the Lisbon Treaty marks the beginning of a lengthy and complex process of leaving the EU. The extent to which this event has a near-term impact on the... 31st March 2017 · 1 min read
