China Economics Update People's Bank signals intent to "normalise" policy The Q3 monetary policy report published earlier this week is the first formal policy statement from the People’s Bank (PBC) since interest rates were hiked a fortnight ago. In it, the PBC mentions a... 4th November 2010 · 1 min read
Europe Economics Update Ireland's fiscal squeeze unlikely to calm markets' nerves We doubt that next year’s €6bn fiscal squeeze will be enough to ensure that the Irish Government’s 2011 budget deficit goal will be met. This, combined with rising political uncertainty and surging... 4th November 2010 · 1 min read
Global Markets Update QE2 is no panacea for the US stock market The US stock market’s lukewarm reaction to yesterday’s FOMC statement suggests the scale and timing of the Fed’s additional monetary stimulus have been largely, though not completely, discounted. We... 4th November 2010 · 1 min read
UK Housing Market Chart Pack Active buyers still thin on the ground (Nov 10) The housing market data became increasingly negative last month. The stock of unsold properties on the market expanded once again and mortgage market activity remains extremely depressed. Most of the... 4th November 2010 · 1 min read
Latin America Economics Update Brazilian growth looking increasingly unbalanced Brazilian industry is well and truly stuck in a rut, due in part to the recent strength of the real. Continued growth in the consumer-facing sectors should keep the recovery from stalling but at the... 4th November 2010 · 1 min read
Europe Economics Update ECB unwilling to join the party After leaving interest rates on hold today, the ECB signalled that it is certainly not ready to follow the Fed into a renewed bout of unconventional policy support. Bolder action might yet be taken... 4th November 2010 · 1 min read
Canada Economics Update Recovery losing momentum The world economy is set to slow as the fading of the policy stimulus again exposes the underlying fragilities left by the recession. During this period of transition, growth in external demand for... 4th November 2010 · 1 min read
Europe Economics Update Are Ireland and Portugal about to turn to the EFSF? There are reasons to think that Portugal and Ireland will not follow Greece in seeking financial support in the very near future. But there are still major doubts over their ability to address their... 4th November 2010 · 1 min read
Asia Economics Update Capital flows into Asia set to bring stock market bubbles Capital inflows into Emerging Asia stock markets were high in October and will probably stay strong in coming months. This huge challenge will continue to be managed through the combination of more... 4th November 2010 · 1 min read
Emerging Europe Economics Update Baltic states struggling to shift growth models The worst of the financial crisis in the Baltic states has clearly passed. But with the region finding it difficult to shift to an export-led growth model, there are legitimate concerns over the... 4th November 2010 · 1 min read
Latin America Economics Update Peru: Early warning signs of higher inflation in 2011 The outlook for inflation in Peru is deteriorating but the policy response is not straightforward. Interest rate hikes would only serve to increase speculative inflows of ‘hot money’, while fiscal... 4th November 2010 · 1 min read
UK Economics Update QE2 still likely as recovery fades The decision by the Monetary Policy Committee (MPC) not to follow the Fed in implementing more quantitative easing (QE) today no doubt reflected the stronger tone of the economic data over the past... 4th November 2010 · 1 min read
UK Economics Update QE2 still likely as recovery fades The decision by the Monetary Policy Committee (MPC) not to follow the Fed in implementing more quantitative easing (QE) today no doubt reflected the stronger tone of the economic data over the past... 4th November 2010 · 1 min read
Europe Commercial Property Update Expectations for European property rental values remain downbeat The latest RICS global property survey points to some signs of life in European commercial property occupier markets. Unfortunately, however, rising tenant demand does not appear to be offsetting new... 4th November 2010 · 1 min read
UK Data Response Halifax House Prices (Oct.) October’s rise in the Halifax house price index was widely expected, given the size of the previous month’s drop. Moreover, although far stronger than consensus estimates for a 0.6% rise, the... 4th November 2010 · 1 min read