Asia Economics Update Taiwan's tightening cycle has probably run its course Following today’s expected rate hike, the outlook for monetary policy in Taiwan depends largely on what happens to property prices. We think there is a good chance rates will return to being on hold. 30th September 2010 · 1 min read
UK Data Response Credit Conditions Survey (Q3) The Bank of England’s latest survey suggested that while credit conditions are continuing to thaw, the process remains very gradual. We do not expect lending growth to pick up pace any time soon. 30th September 2010 · 1 min read
UK Data Response Credit Conditions Survey (Q3) The Bank of England’s latest survey suggested that while credit conditions are continuing to thaw, the process remains very gradual. We do not expect lending growth to pick up pace any time soon. 30th September 2010 · 1 min read
BoE Watch MPC edging towards more QE Signs that the economic recovery is fading have prompted the Monetary Policy Committee(MPC)to move slightly closer to providing the economy with more stimulus. Indeed, a three way split vote looks... 30th September 2010 · 1 min read
Latin America Chart Pack Capital controls back on the agenda Governments in Latin America are becoming increasingly concerned about rapid currency appreciation, and for good reason. For a start, most currencies (with the notable exception of the Mexican peso)... 30th September 2010 · 1 min read
Europe Data Response Euro-zone Flash CPI & German Unemployment (Sep.) September’s rise in euro-zone CPI inflation probably reflected energy and food effects, while underlying price pressures remain very weak. 30th September 2010 · 1 min read
UK Commercial Property Data Response Credit Conditions Survey (Q3) and Property Lending (Aug.) Net lending to commercial property was substantially negative again in August and, given banks’ and building societies’ high exposure to the sector, we would expect net lending to remain weak. Today’s... 30th September 2010 · 1 min read
UK Data Response Nationwide House Prices (Sep.) House prices were more or less stable in September. Although it may appear that prices are stagnating at the moment, the renewed falls in mortgage market activity suggest that further declines in... 30th September 2010 · 1 min read
Japan Data Response Industrial Production etc. (Aug.) The third successive monthly fall in industrial production in August was a nasty surprise and there may be worse to come as auto firms slash output following the expiry of a government scheme to boost... 30th September 2010 · 1 min read
Bank of Japan Watch Yen intervention not yet a significant monetary tool The recent currency intervention by the Bank of Japan was almost certainly not the major shift in monetary policy that many seem to assume. The move was ordered by the Ministry of Finance and the... 29th September 2010 · 1 min read
Asia Economics Update Pakistan continues to make the right moves Pakistan’s central bank (SBP) today lifted its discount rate by 50bp to 13.5%, as was expected. Rates will probably be increased again later this year but 14% should be the peak. 29th September 2010 · 1 min read
Europe Economics Update Will the euro-zone be the biggest loser in a currency war? If the world is about to engage in a currency war, the euro-zone’s arsenal looks poorly stocked. 29th September 2010 · 1 min read
China Data Response HSBC/Markit PMI (Sep.) There was further evidence in today’s PMI that China’s economy has bottomed out and is now regaining momentum. Meanwhile, price pressures are still subdued. 29th September 2010 · 1 min read
Europe Data Response Euro-zone EC Survey (Sep.) September’s improvement in the EC business and consumer survey comes as a relief after recent weaker news on the euro-zone. But the survey still points to much slower growth in Q3 than in Q2. 29th September 2010 · 1 min read
UK Economics Update Monetary Indicators Monitor (Sep.) Underlying broad money growth still looks very weak – supporting MPC member Adam Posen’s view that more quantitative easing (QE) will be required in order to boost money and credit growth and hence... 29th September 2010 · 1 min read
