US Economics Weekly Labour market inflation pressures won't amount to much The current signs of inflationary pressure in the labour market will probably amount to nothing. Although we are mindful that accelerating earnings growth could be an early indication that... 18th March 2013 · 1 min read
Japan Economics Weekly A more sympathetic view of Mr. Shirakawa A look back at the Bank of Japan’s actions under Governor Shirakawa suggests that many commentators have been judging him too harshly. Monetary policy was loosened much less aggressively in Japan than... 18th March 2013 · 1 min read
Canada Economics Weekly Weak hourly earnings limits wage growth The strong pick-up in Labour Force Survey hours worked suggest that first-quarter wages and salaries growth should improve from the modest 2.4% annualised gain posted in the fourth quarter of last... 18th March 2013 · 1 min read
Asia Economics Weekly Inflation outlook remains benign Inflation has been on a downtrend trend across most of Asia over the past year, allowing central banks to keep monetary policy loose to support domestic demand. In this Weekly we assess the outlook... 18th March 2013 · 1 min read
UK Economics Weekly Poor data piles further Budget pressure on Chancellor With the news last week of falls in industrial and construction output, talk of a “triple-dip” recession is back in the headlines. It’s still early days, but even with some signs that March will turn... 18th March 2013 · 1 min read
Europe Economics Weekly Germany likely to prevail in austerity debate Last week brought mixed news in the debate on growth versus austerity. On the one hand, EU leaders discussed and (to some extent) advocated growth policies at an EU summit. What’s more, the European... 18th March 2013 · 1 min read
US Data Response Ind. Production (Feb.) & Consumer Confidence (Mar.) The combination of the payroll tax hike and rising gasoline prices was probably behind the unexpected drop in the University of Michigan measure of consumer confidence to a 15-month low of 71.8 in... 15th March 2013 · 1 min read
UK Housing Market Update Will prime central London house prices continue to outperform? Interest in prime central London property may be waning, with improved sentiment in the euro-zone and poor rental yields both weighing on demand. Further large price gains are therefore unlikely, but... 15th March 2013 · 1 min read
US Data Response Consumer Prices (Feb. 13) Aside from the rise in gasoline prices, which is now being reversed, it is hard to find any evidence of major consumer price pressures in the economy. This will allow the Fed to maintain its attack on... 15th March 2013 · 1 min read
Europe Data Response Euro-zone Final CPI (Feb.) & Labour Costs (Q4) The latest figures on consumer prices and labour costs in the euro-zone emphasised that the inflation outlook presents no obstacles to the provision of further policy support from the ECB. 15th March 2013 · 1 min read
Emerging Europe Economics Update Russian policymakers still waiting for inflation to fall The high rate of inflation continues to prevent the Central Bank of Russia from easing policy to support the slowing economy. But with inflation now close to peaking, interest rate cuts are possible... 15th March 2013 · 1 min read
Africa Economic Outlook Strong domestic demand to help Africa outperform The growth outlook for sub-Saharan Africa (SSA) remains good. Admittedly, the region will not be immune from global headwinds, particularly from the ongoing recession in Europe. Export demand may also... 15th March 2013 · 1 min read
Latin America Economics Update Chilean central bank edging closer to FX intervention Chile’s central bank (BCC) stopped short of announcing measures to weaken the peso at last night’s policy meeting, but its accompanying statement revealed mounting concerns about the strength of the... 15th March 2013 · 1 min read
UK Economics Focus Time to tackle the pound? With a review of the monetary framework looking likely, policymakers should consider giving the pound a more explicit role in policy. Committing to a lower pound would not be without its costs; in the... 14th March 2013 · 1 min read
Emerging Markets Trade Monitor Divergence in export performance deepens The recovery in Emerging Market exports continues to be concentrated in Asia. By contrast, exports from other EM regions, and commodity producers in particular, remain disappointing. 14th March 2013 · 1 min read
