Japan Economics Focus Does the contraction in bank credit signal a double-dip? The recent contraction of bank lending is often cited as a risk to the economic recovery in Japan and to the prospects for investment in particular. However, the declines in bank lending are probably... 9th March 2010 · 1 min read
Japan Data Response Economy Watchers Survey & Bank Lending (Feb.) The continued improvement in the main balances of Japan’s Economy Watchers Survey (EWS) in February is further evidence of a strong and increasingly broad-based recovery. We would pay less attention... 8th March 2010 · 1 min read
Emerging Europe Economics Update How exposed are Emerging Europe’s banks to Greece? In a recent Update we argued that the crisis in Greece has dealt a huge blow to the prospects for a further rapid expansion of the euro-zone (see Emerging Europe Update, ‘Greek tragedy to temper EMU... 4th March 2010 · 1 min read
UK Economics Update Monetary Indicators Monitor (Feb.) This week marks the one year anniversary of the launch of the Bank of England’s quantitative easing (QE) programme of asset purchases. As Mervyn King has pointed out, without QE, the UK would probably... 1st March 2010 · 1 min read
Europe Economics Update Euro-zone Monetary Indicators Monitor (Feb.) January’s euro-zone money supply and lending figures added to evidence that domestic demand remained very subdued at the start of this year. 25th February 2010 · 1 min read
Emerging Europe Economics Update Easing in credit confined to a handful of countries While there are tentative signs that credit conditions are starting to ease in parts of the region, the improvement has so far been confined to those countries with relatively healthy banking sectors... 10th February 2010 · 1 min read
Japan Economics Update Monetary Indicators Monitor (Jan.) The renewed weakness of bank lending is largely due to lower demand for credit rather than a lack of supply. This is not all bad news – emergency bank borrowing by firms in distress is probably... 8th February 2010 · 1 min read
China Economics Update Will monetary growth fuel inflation? China’s money supply expanded rapidly last year, but its growth is already subsiding. With spare capacity still a problem, the ongoing pick-up in inflation is unlikely to last for long. 3rd February 2010 · 1 min read
UK Economics Update Monetary Indicators Monitor (Jan.) It has now been almost a year since the Bank of England started its quantitative easing (QE) programme of asset purchases, yet both the broad money supply and bank lending are still barely rising. 1st February 2010 · 1 min read
Europe Economics Update Euro-zone Monetary Indicators Monitor (Jan.) December’s euro-zone money supply figures and January’s ECB Bank Lending Survey suggest that credit conditions in the region remain very tight, despite the ECB’s unlimited provision of liquidity to... 29th January 2010 · 1 min read
Japan Economics Update BoJ sits tight as S&P issues credit warning The Bank of Japan failed to make any new policy announcements today, disappointing some in the markets (ourselves included) who had hoped for at least a hint of further easing. However, the warning... 26th January 2010 · 1 min read
US Economics Update Democrats taking a much tougher line on bank reform 22nd January 2010 · 1 min read
