Global Economics Update Global Monetary Indicators (May) Advanced economies remain awash with liquidity. The Japanese monetary base has been rising steeply for several months, even before the Bank of Japan’s policy shift, announced on 4th April. 21st May 2013 · 1 min read
Latin America Economics Focus Why Brazil must save to invest The renewed focus of the Brazilian authorities on raising investment suggests a growing acceptance that the slump in growth over the past year or so has been driven in part by structural factors... 21st May 2013 · 1 min read
UK Data Response Consumer Prices & Producer Prices (Apr.) April’s drop in inflation has provided some welcome, albeit temporary, relief to households’ budgets. While CPI inflation still looks set to climb in the coming months, we continue to expect it to... 21st May 2013 · 1 min read
Middle East & North Africa Economics Update Kuwait's politics holding back investment A fresh bout of tensions between Kuwait’s parliament and the government reinforces our concerns that the country’s fractious politics is undermining the economy’s growth prospects. All told, we think... 21st May 2013 · 1 min read
Emerging Europe Economics Update Parent bank deleveraging easing The pace at which parent banks in Western Europe have scaled back funding for subsidiaries in Eastern Europe has slowed further since the start of the year. Nonetheless, credit conditions in much of... 21st May 2013 · 1 min read
Europe Economics Update French wealth tax adds to fears for economy The news that some wealthy French households were taxed over 100% of their income last year has added to criticism of President François Hollande’s policies. But the bigger point is that rising... 20th May 2013 · 1 min read
Global Markets Update How long can the current equity rally last? Our view from the outset has been that 2013 would be a year of two halves for risky assets, with a strong start eventually giving way to renewed weakness. In the event, while we were correct to be... 20th May 2013 · 1 min read
Europe Economics Focus Is the euro-zone crisis really over? The improvement in market sentiment towards the euro-zone has not been matched by a material change in the troubled countries’ economic and fiscal outlooks. As such, the crisis is not over. 20th May 2013 · 1 min read
UK Commercial Property Update The better signs continue Over the past week or so the signs that commercial property investor confidence has picked up have continued to emerge. Any upturn in capital values is unlikely to be large or sustained until a... 20th May 2013 · 1 min read
Latin America Economics Update Chilean GDP growth moderates in Q1 Chile’s economy stumbled in Q1 as investment spending slipped back from the robust rates of the past few quarters. With copper prices now falling and credit conditions tightening, GDP growth is likely... 20th May 2013 · 1 min read
Bank of Japan Watch Kuroda to seek to reassure JGB investors The Bank of Japan’s two-day meeting (which concludes on Wednesday) is unlikely to result in any major policy changes. Governor Kuroda will want to address the recent jump in JGB yields, although we... 20th May 2013 · 1 min read
Asia Economics Update Thailand's economy should rebound from weak Q1 Thailand’s economy struggled last quarter, but a modest rebound is likely over the coming quarters. Against this backdrop, we think the central bank will continue to resist pressure to cut rates. 20th May 2013 · 1 min read
Japan Economics Weekly Was Q1’s strength really due to Abenomics? The encouraging first quarter GDP data have prompted us to revise up our growth forecast for 2013 as a whole. However, while “Abenomics” has certainly boosted sentiment, the jury is still out on... 20th May 2013 · 1 min read
Canada Economics Weekly Household spending less supportive to growth After shoring up economic growth over the second half of last year, economic indicators suggest that household consumption will be less supportive to growth over the first half of this year and... 20th May 2013 · 1 min read
