China Data Response Bank Lending & Broad Credit (May) The value of new loans issued by Chinese banks edged down last month. But this often happens in May. More importantly, broad credit growth slowed further and is now the weakest in over a decade. 12th June 2018 · 1 min read
US Economics Update Monetary Indicators Monitor (Apr.) Growth in the narrow monetary aggregates slowed further in April, but there is still little to suggest that this is having much of an impact on the wider economy. Our measure of M3 growth has held up... 11th June 2018 · 1 min read
Latin America Economics Update Argentina: IMF deal imposes ambitious fiscal targets Confirmation that Argentina has reached an agreement with the IMF over a financing package will help to restore investor confidence and provide a much-needed anchor for the country’s necessary... 8th June 2018 · 1 min read
Global Economics Update Household balance sheets still in decent shape Although there are early signs that the finances of US households are coming under a bit of pressure as interest rates rise, the near-term outlook for household consumption in advanced economies... 8th June 2018 · 1 min read
Europe Economics Weekly Spain can cope without Rajoy but Italian politics still a worry In any other week, the imposition of tariffs on the EU by the US would have taken centre stage. But amid the political and market turmoil in Italy and the downfall of Spain’s government, this was no... 1st June 2018 · 1 min read
Japan Economics Weekly BoJ getting more concerned about financial stability The Bank of Japan seems to be getting more concerned about the impact of low policy rates on financial stability. However, the financial system is neither unwilling to provide credit nor is credit... 1st June 2018 · 1 min read
Emerging Europe Economics Update How could Italy’s problems affect Emerging Europe? Recent developments in Italy do not pose an immediate threat to economies in Emerging Europe but a significant escalation in the crisis would cause problems for countries in the region, particularly... 31st May 2018 · 1 min read
Global Economics Update Banks outside the euro-zone not too exposed to Italy The direct exposure to Italy of banks located outside the euro-zone is small compared to that of their peers based in other euro-zone countries. This offers some reassurance that any fallout from... 31st May 2018 · 1 min read
Canada Chart Pack Household credit growth slows sharply Rising interest rates and the recent tightening of mortgage lending standards are now having a marked impact on mortgage lending, with the three-month-on-three-month annualised growth rate of mortgage... 29th May 2018 · 1 min read
India Economics Update Bankruptcy code finding its feet After a few teething problems in its early stages, India’s new bankruptcy code is now making a significant difference to the speed at which bankruptcy cases are resolved and the amount that creditors... 25th May 2018 · 1 min read
Australia & New Zealand Chart Pack Royal Commission presents a risk to growth While there is still a lot of uncertainty, it seems likely that the Royal Commission into misconduct in the financial sector will lead to a tightening in credit conditions in Australia. A notable... 24th May 2018 · 1 min read
India Chart Pack BJP still in strong position despite Karnataka setback The BJP’s failure to form a coalition despite winning by far the most seats in the Karnataka state election is a setback for the ruling national party, with the main opposition Congress and the local... 23rd May 2018 · 1 min read
US Economics Update Rising rates beginning to squeeze household finances Households’ balance sheets are still in good shape, with debt burdens stabilising well below their pre-crisis levels and delinquencies low. However, the further rise in newly delinquent credit card... 21st May 2018 · 1 min read
Latin America Economics Update Maduro 2.0: messy debt default on the cards The victory for Nicolás Maduro in Venezuela’s presidential election paves the way for an escalation of US sanctions – possibly on the oil sector – and a messy sovereign debt default and restructuring... 21st May 2018 · 1 min read
US Economics Weekly Corporate sector well placed to cope with higher rates Higher market interest rates will undoubtedly act as a drag on household spending and business investment, offsetting some of the temporary boost from fiscal stimulus. We expect that will eventually... 18th May 2018 · 1 min read
Australia & New Zealand Economics Weekly Where to look for tighter credit conditions Credit conditions in Australia will surely tighten further as a result of the Royal Commission investigation into misconduct in the financial sector, but there is a huge amount of uncertainty about... 18th May 2018 · 1 min read
