UK Data Response UK Ind. Production (Jan.) & Producer Prices (Feb.) Today’s disappointing industrial figures provided further evidence to suggest that the manufacturing recovery may already be starting to lose steam. 9th March 2012 · 1 min read
Asia Economics Update Global upturn stays Malaysian central bank’s hand Bank Negara Malaysia (BNM) held its policy rate at 3% today, as was expected. Inflation has eased in the last four months, but a general improvement in economic data both at home and abroad has... 9th March 2012 · 1 min read
China Economics Update Inflation falls, but activity disappoints at start of year Today’s spending and output data were disappointing, suggesting the apparent turnaround at the end of last year has already run out of steam. There are clouds on the horizon too: property sales are... 9th March 2012 · 1 min read
Latin America Economics Update Peruvian inflation poised to fall further in coming months Peru’s central bank (BCRP) kept interest rates on hold at 4.25% last night, maintaining a resolutely neutral monetary policy bias. Nevertheless, with inflation set to fall back more sharply in the... 9th March 2012 · 1 min read
Europe Economics Update Debt deal not the end of Greece’s problems The successful Greek debt exchange should ensure that the second bail-out package is formally signed off before long, but it leaves Greek government debt still at an unsustainably high level. 9th March 2012 · 1 min read
UK Markets Chart Pack Markets reassess QE outlook UK interest rate expectations have started to edge up and UK equities have underperformed those overseas as investors have reacted to tentative signs in the Bank of England’s Inflation Report and from... 8th March 2012 · 1 min read
Europe Economics Update ECB puts the ball in governments’ court The ECB struck a downbeat tone at its policy meeting today. But having recently provided massive long-term loans to the banking sector, it is not prepared to offer more support before it has taken... 8th March 2012 · 1 min read
Bank of Japan Watch Policy Board on a roll after launch of QE5 The Bank of Japan is likely to have been pleased with the market response to the policy measures it announced in February, especially as neither the additional asset purchases nor the tweaks to the... 8th March 2012 · 1 min read
Middle East & North Africa Economics Update North Africa’s new parliaments at risk of losing sight of economy A lack of policy direction in North Africa is jeopardising the already-sluggish economic recovery. Unemployment has reached record highs in both Egypt and Tunisia, fiscal and external positions are... 8th March 2012 · 1 min read
Europe Commercial Property Update Is a period of underperformance looming for Munich offices? Prime office capital values in Munich in 2011 outperformed the other main German cities, thanks mainly to a sharp rise in office rents. But while this rise might have raised the scope for office rents... 8th March 2012 · 1 min read
Canada Economics Update Bank of Canada maintains cautious approach The Bank of Canada's policy statement, which pledged to keep interest rates at 1.00%, retained its cautious wait-and-see approach, despite the improvement in economic data. Given the strength of the... 8th March 2012 · 1 min read
UK Commercial Property Focus Is weak investment market activity a sign of trouble ahead? Arguably, if the recent drop in commercial property investment market activity is primarily a function of a lack of stock for sale, it will have little bearing on the outlook for capital values. Yet... 8th March 2012 · 1 min read
Asia Economics Update Korea’s central bank playing a waiting game The Bank of Korea (BoK) kept its policy rate at 3.25% today, as expected. The central bank is weighing downside risks to growth against the threat of higher oil prices pushing up inflation. Our view... 8th March 2012 · 1 min read
Europe Data Response German Industrial Production (Jan.) January’s rise in German industrial production reduced the immediate risk of a recession, but did little to change the underlying picture of a very sharp slowdown in the sector. 8th March 2012 · 1 min read
UK Economics Update Consensus wrong in thinking MPC done with QE Reports that the Chancellor is considering issuing bonds of 100 years or more in order to take advantage of the government’s low borrowing costs underline the UK’s perceived safe-haven status relative... 8th March 2012 · 1 min read
