UK Economics Update Monetary Indicators Monitor (Jul.) The broad monetary aggregates are still showing little sign of responding to the Bank of England’s quantitative easing (QE) programme of asset purchases. We therefore continue to doubt that the QE... 20th July 2009 · 1 min read
Asia Economics Update Hot capital returns to China, raising inflation risks further The revival of confidence in China’s prospects appears to be drawing large amounts of speculative capital back into the economy, swelling the money supply and further raising inflation risks. Much of... 15th July 2009 · 1 min read
China Economics Update Hot capital returns to China, raising inflation risks further The revival of confidence in China’s prospects appears to be drawing large amounts of speculative capital back into the economy, swelling the money supply and further raising inflation risks. Much of... 15th July 2009 · 1 min read
Europe Economics Update Italian banks – weathering the storm better than most Italian banks have so far coped with the financial crisis better than most of their European peers. While this has not prevented a slowdown in lending, the problems in the supply of credit seem... 2nd July 2009 · 1 min read
Europe Economics Update Euro-zone Monetary Indicators Monitor (Jun.) The latest euro-zone money and credit figures revealed that, after having flattened off for some time, the monetary base increased again. The hope is that banks will feel encouraged to lend. But there... 30th June 2009 · 1 min read
UK Economics Update Financial Stability Report highlights constraints on bank lending The Bank of England’s latest Financial Stability Report (FSR) supports our view that bank lending growth will remain sluggish for a prolonged period, thus constraining the likely recovery in the... 26th June 2009 · 1 min read
UK Economics Update Monetary Indicators Monitor (Jun.). The latest monetary indicators confirm that the Bank of England’s asset purchases under its quantitative easing (QE) programme are providing some boost to the money holdings of the non-bank sector... 18th June 2009 · 1 min read
Europe Economics Update Will the Spanish bank rescue package be enough? The announcement by the Spanish Government that it plans to set up a fund to provide capital to the ailing banking sector is certainly good news. But on its own, it will not be enough to prevent the... 16th June 2009 · 1 min read
Europe Economics Update Euro-zone bank losses: halfway through? In its latest Financial Stability Review, published yesterday afternoon, the ECB has taken a less gloomy view on the potential losses that euro-zone banks still have to face relative to a previous IMF... 16th June 2009 · 1 min read
Nordic & Swiss Economics Update The Baltics remain a weight on Sweden’s shoulders Today’s announcement that the Swedish Riksbank is to borrow €3bn from the ECB confirms that, while the green shoots of recovery may be starting to emerge in parts of the global economy, the Baltic... 10th June 2009 · 1 min read
US Economics Focus Will the Fed's actions eventually lead to runaway inflation? 9th June 2009 · 1 min read
Europe Economics Update Euro-zone Monetary Indicators Monitor (May) April’s data revealed that there was no let-up in the downward trend in both broad money and lending growth in the euro-zone. This further supports our view that the ECB’s injections of short-term... 29th May 2009 · 1 min read
UK Economics Update Lenders fail to pass on fall in funding costs The falling level of interbank lending rates has been an encouraging aspect of the recent improvement in conditions in both financial markets and the wider economy. Unfortunately, there is limited... 26th May 2009 · 1 min read
UK Economics Update Monetary Indicators Monitor (May) The latest monetary indicators show that the boost to the monetary base from the Bank of England’s asset purchases is not yet feeding through into a ignificant pick-up in lending to the wider economy. 21st May 2009 · 1 min read
