Emerging Europe Data Response Russia CPI (Mar.) The further decline in Russian inflation last month, and in core inflation in particular, means another interest rate cut looks likely at the next central bank Board meeting later this month. As... 5th April 2017 · 1 min read
Europe Chart Pack Economy going strong, but core inflation weak Survey data for March added to the evidence that euro-zone growth gained pace in the first quarter. Meanwhile, headline consumer price inflation fell in March and appears to have passed its peak... 5th April 2017 · 1 min read
Bank of Canada Watch Bank likely to remain cautious about growth outlook We expect the Bank of Canada to hold interest rates at 0.50% next week and to remain neutral on the direction of interest rates in the near future. Despite economic slack and muted core inflation... 5th April 2017 · 1 min read
Latin America Data Response Chile IMACEC (Feb.) The contraction in Chilean economic activity in February largely reflects a strike at the country’s largest copper mine, which has now come to an end. But the rest of the economy also weakened and... 5th April 2017 · 1 min read
UK Economics Update Economy’s resilience points to earlier rise in interest rates While the outlook for UK monetary policy is highly uncertain, the economy’s continued resilience suggests that interest rates will rise sooner and more quickly than is generally anticipated. 5th April 2017 · 1 min read
Latin America Economics Update Politics still the biggest threat to Brazil’s recovery Brazil’s beleaguered government will have to fight major challenges on at least three fronts over the coming months. As things stand, there appears to be a way forward for the government on each of... 5th April 2017 · 1 min read
China Economics Update Inflation rebounds as New Year distortions fade Consumer price inflation ought to have rebounded from a seasonal decline in February last month but remained low. Looking ahead, households will continue to face relatively subdued price pressures in... 5th April 2017 · 1 min read
Emerging Europe Economics Update What’s behind the rise in Turkish inflation? The sharp rise in Turkish inflation in recent months has been caused by a combination of the fall in the lira, higher petrol inflation and a harsh winter. The impact of these should fade in the coming... 5th April 2017 · 1 min read
UK Housing Market Chart Pack Pause in activity growth Activity growth took a breather in February while house price inflation continued to slow. And, with real wage growth slowing to a standstill and demand growth stalled, that pattern looks set to... 5th April 2017 · 1 min read
UK Data Response Markit/CIPS Report on Services (Mar.) March’s strong Markit/CIPS report on services provides some reassurance that the economy retained a decent amount of momentum in Q1 and that, despite intensifying headwinds, growth won’t slow too... 5th April 2017 · 1 min read
Nordic & Swiss Data Response Swedish Industrial & Services Production (Feb.) The latest raft of positive Swedish data supports our view that the Riksbank’s extremely accommodative monetary policy is no longer justified – we expect the Bank to stop purchasing assets in June and... 5th April 2017 · 1 min read
Metals Chart Pack Metals prices still holding on There were some signs of fading investor enthusiasm for industrial metals last month. Although January-February economic data out of China were encouraging, the shift in timing of the Lunar New Year... 5th April 2017 · 1 min read
Latin America Economics Update March survey data strike more positive tone in Brazil and Mexico The latest batch of survey data suggests that Brazil’s economy continued to recover in March, while in Mexico the recent slump in the IMEF business surveys is starting to reverse. 4th April 2017 · 1 min read
Canada Data Response International Merchandise Trade (Feb.) The 2.5% m/m drop in export volumes in February was widespread and suggests that the economy is still struggling with competitiveness challenges. This just goes to show that the Bank of Canada is... 4th April 2017 · 1 min read
US Data Response International Trade (Feb.) The trade deficit narrowed sharply in February to $43.6bn, from $48.2bn in January, as the surge in imports from China ahead of the Lunar New Year Holiday was reversed. 4th April 2017 · 1 min read
