Emerging Markets Economics Update Fed tightening and EM vulnerabilities: a stock-take A handful of EMs – mainly in Asia – have taken steps to reduce their external vulnerabilities in the wake of last year’s “Taper Tantrum”. But these countries are the exception rather than the rule... 5th September 2014 · 1 min read
China Economics Update New light on government borrowing Reforms just agreed should drastically reduce off-budget borrowing by local governments and make it much easier to monitor the build-up of government debt. These moves are long overdue but the fact... 3rd September 2014 · 1 min read
UK Economics Update Household Borrowing Monitor (Aug.) July’s household borrowing figures provided further signs that the consumer recoveryhas not been driven by an unsustainable credit binge. Meanwhile, mortgage lendinglooks set to recover gradually as... 1st September 2014 · 1 min read
UK Economics Weekly UK better placed to weather another euro-zone storm With euro-zone activity indicators having softened over recent months, it looks as if the currency bloc’s nascent recovery is already losing steam. Without bolder policy action from the ECB, the risks... 29th August 2014 · 1 min read
Africa Chart Pack Weaker growth looms for twin deficit countries Ghana’s authorities bowed to the inevitable earlier this month by formally requesting assistance from the IMF in dealing with the country’s enormous twin budget and current account deficits. This... 29th August 2014 · 1 min read
Europe Economics Update Euro-zone Monetary Indicators Monitor (Jul.) Although July’s euro-zone monetary data showed some further signs of improvement, the bigger picture is that lending is still contracting and the data suggest there is still a significant risk of... 28th August 2014 · 1 min read
China Economics Update On the cusp of another slowdown? China’s economy continues to face headwinds, particularly from the property sector. But the key lesson from recent months is that policymakers have plenty of tools at their disposal to shore up growth... 28th August 2014 · 1 min read
Latin America Chart Pack Mexico turning the corner The past month has brought signs that Mexico’s economy is finally turning the corner. latestdata suggest that the Mexican economy has turned the corner. GDP expanded by a seasonally-adjusted 1.0% q/q... 28th August 2014 · 1 min read
Middle East & North Africa Chart Pack Dubai's GREs slowly tackling their debt problems Over the past month Dubai’s government-related entities (GREs), which were at the heart of the Emirate’s crisis in 2009, have made further efforts to tackle their huge mountains of debt. The recovery... 28th August 2014 · 1 min read
Global Central Bank Watch What did we learn from Jackson Hole? Last week’s gathering of central bankers at Jackson Hole served to underline the gulf between labour market conditions in the major advanced economies. We suspect that these differences will lead to a... 27th August 2014 · 1 min read
US Economics Weekly Recovery in small business lending to gather pace The main reason why the stock of loans to small businesses has yet to surpass its previous peak is because weak sales have restrained the demand for new borrowing. The recent rise in the NFIB small... 22nd August 2014 · 1 min read
US Economics Update Monetary Indicators Monitor (Jul.) The recent rapid rise in bank loans, which is partly being driven by auto loans, is not a cause for concern and instead is a sign that the economy is becoming stronger. 20th August 2014 · 1 min read
China Chart Pack Constraints on banks, not demand, behind loan slump A record RMB2.0trn fall in bank deposits in July, which put pressure on banks’ loan-to-deposit ratios (LDRs), appears to have been the main factor behind last month’s weakness in lending. LDRs are a... 19th August 2014 · 1 min read
Africa Economic Outlook Cracks emerge in the “Africa Rising” story The long-run growth outlook for sub-Saharan Africa (SSA) remains good, but recent developments have caused cracks to emerge in the “Africa Rising” story. Budget and current account positions have... 15th August 2014 · 1 min read
Latin America Economics Update Argentina: Stimulus may backfire as bank deal falls through Negative comments from holdout creditors suggest that a solution to the Argentine debt dispute involving private banks has fallen through. That, along with interest rate cuts and monetisation of the... 14th August 2014 · 1 min read
Middle East & North Africa Economics Update Saudi consumer spending may be stabilising The latest data suggest that Saudi consumer spending remains weak by past standards, but it does at least look like the recent slowdown may now have bottomed out. 14th August 2014 · 1 min read
