US Data Response UoM Consumer Confidence (Jun.) The drop in the University of Michigan index of consumer confidence to a seven-month low in June isn’t overly concerning as confidence had been unusually elevated for some time. In any case, the index... 16th June 2017 · 1 min read
Europe Economics Weekly Slow wage growth underscores need for policy support The latest labour market data paint a positive picture of employment conditions in the euro-zone. Indeed, in Q1 the level of euro-zone employment finally surpassed its pre-crisis peak. What’s more... 16th June 2017 · 1 min read
UK Economics Weekly MPC hawks to remain in the minority for a while yet This week, the Bank of England’s Monetary Policy Committee came close to voting to tighten monetary policy. At the same time, we saw claims that austerity is now over. It is remarkable therefore that... 16th June 2017 · 1 min read
Canada Economics Weekly Interest rate hike is far from a done deal The Bank of Canada mentioned this week that the economy is gathering momentum and indicated that it is considering hiking interest rates soon, prompting financial markets to quickly raise bets on a... 16th June 2017 · 1 min read
US Housing Market Data Response Housing Starts (May) Housing starts once again surprised on the downside in May, contracting for the third month in a row. The multifamily sector is primarily responsible for the decline, but single-family starts have... 16th June 2017 · 1 min read
Emerging Europe Economics Update Russia: CBR governor strikes cautious note Relatively hawkish comments from the Russian central bank today appear to be aimed at dampening hopes that the pace of monetary easing might be stepped up. But while the policy rate is likely to be... 16th June 2017 · 1 min read
Emerging Markets Economics Chart Pack Steady as she goes The latest economic data from across the emerging world have been mixed but our EM GDP Tracker suggests that growth has levelled off at around 4% y/y. While China’s growth has now passed its peak... 16th June 2017 · 1 min read
Europe Commercial Property Update Improved economic outlook in Finland emboldens investors The Finnish economy is benefitting from a cyclical recovery in the euro-zone and Russia. This is likely to attract more core capital to Helsinki, given its appealing yield and solid rental growth... 16th June 2017 · 1 min read
Europe Economics Update Greek crisis averted for another year The deal at yesterday’s Eurogroup meeting should see Greece receive the next tranche of its bailout soon, allowing it to meet July’s debt repayments with a little time and cash to spare. Debt relief... 16th June 2017 · 1 min read
US Economics Weekly Fed still to convince the markets of further rate hikes Fed officials continue to anticipate one more rate hike in the second half of this year, but markets are not even convinced that the Fed will hike rates again within the next two years. The Fed has... 16th June 2017 · 1 min read
China Chart Pack China awaits damp squib of MSCI inclusion MSCI will announce on Tuesday whether it will include China’s domestically-listed A-shares in its benchmark indices. It has chosen not to in the past on concerns over market access and official... 16th June 2017 · 1 min read
Asia Economics Weekly No need to panic over rapid credit growth in the Philippines The recent acceleration in credit growth in the Philippines is unlikely to lead the central bank (BSP) to hike interest rates at its meeting on Thursday. However, it could prompt the BSP to introduce... 16th June 2017 · 1 min read
Latin America Economics Update Chile: Central bank holds rates, but further cuts to come Chile’s central bank left its policy interest rate unchanged at 2.50% following its latest MPC meeting, but with inflation set to remain below target and no sign of a turnaround in the economy, we... 16th June 2017 · 1 min read
Australia & New Zealand Economics Weekly Energy price hikes pile more pressure on households The utility bills of Australian households won’t rise by as much as the eye-watering 20% figure that has been catching the headlines as not all retailers have raised prices by that much and as prices... 16th June 2017 · 1 min read
RBNZ Watch New Zealand - RBNZ won’t be perturbed by the weak GDP figures Although the first-quarter GDP growth figures were notably weaker than the RBNZ had expected, the Bank will almost certainly keep the official cash rate (OCR) on hold at 1.75% at its monetary policy... 16th June 2017 · 1 min read
