Energy Chart Pack Gas and coal prices fall but oil prices remain stable Oil prices were remarkably quiet in February. Indeed, the price of Brent moved by less than $2 per barrel during the month, but prices have fallen so far in March. February proved to be a more... 9th March 2017 · 1 min read
Emerging Europe Data Response Czech CPI (Feb.) Last month’s stronger-than-expected rise in Czech headline inflation was driven entirely by higher food and fuel inflation and, on its own, is unlikely to be of too much concern to the National Bank’s... 9th March 2017 · 1 min read
Middle East & North Africa Data Response Egypt Consumer Prices (Feb.) Egyptian inflation jumped again in February but it is probably now close to peaking and is likely to start falling in the second half of the year. This, coupled with signs that the balance of payments... 9th March 2017 · 1 min read
Middle East & North Africa Economics Update Egypt: weaker pound having the desired effect Egypt’s balance of payments data for Q4 released today show only a modest narrowing in the current account deficit, but digging a little deeper there are signs that the 50% drop in the pound against... 8th March 2017 · 1 min read
Metals Watch A bright road ahead for cobalt…but beware of bumps While we have been positive on the prospects for cobalt prices for some time now, we think that the most recent rally is overdone. Admittedly, the market is tightening. But, in our view, the move-up... 8th March 2017 · 1 min read
UK Economics Focus Spring Budget 2017: OBR ties Hammond’s hands The Office for Budget Responsibility’s caution on both the economic and fiscal outlook limited the Chancellor’s room for manoeuvre in this last spring Budget. But he still has a little room to loosen... 8th March 2017 · 1 min read
Commodities Watch Policy uncertainty is weighing on US agriculture In late February, the US Department of Agriculture (USDA) published its first assessment of the prospects for US crops in 2017/18. In this Commodities Watch, we will discuss the USDA’s forecasts and... 8th March 2017 · 1 min read
Energy Data Response US Weekly Petroleum Status Report Crude oil stocks rose sharply last week as imports and output increased and inputs to refineries fell. But product stocks declined by even more, as demand edged higher. 8th March 2017 · 1 min read
Latin America Economics Update Brazil’s pension reforms: five key questions With Brazil returning from carnival, thoughts are shifting back to President Temer’s domestic policy agenda and, in particular, the prospects for planned pensions reform over the coming months that... 8th March 2017 · 1 min read
UK Commercial Property Update Chancellor offers little further help on business rates Hopes that the Chancellor would use today’s Budget to find a way of providing more meaningful relief for those businesses set to see the largest increases in business rates in April, were largely... 8th March 2017 · 1 min read
Emerging Europe Economics Update Dovish Polish MPC suggests that tightening is long way off The dovish stance taken by the Polish MPC in its post-meeting press conference reinforces our view that, despite the recent rise in inflation, monetary policy will remain loose over the next couple of... 8th March 2017 · 1 min read
US Economics Update Tax reform delay means we need to tweak our GDP forecast With the prospect of an early deal on tax reform fading fast, we now assume that the fiscal stimulus won’t be passed by Congress until the start of next year and, as a result, we are revising down our... 8th March 2017 · 1 min read
Europe Commercial Property Update Developers Hungary for returns will dampen Budapest rental growth Higher Budapest office capital values mean that new development is increasingly viable, with developers now in-line to make healthy profits. But, higher levels of supply will cause rents to flatline... 8th March 2017 · 1 min read
US Fed Watch Fed signals an acceleration in the pace of tightening Last week Fed officials acted on a clearly preconceived plan to prepare markets for another interest rate hike at the upcoming FOMC meeting, which finishes on Wednesday 15th March. Buoyed by the post... 8th March 2017 · 1 min read
Global Economics Update Are the latest survey data too good to be true? The most recent retail sales and industrial production data for several advanced economies have not been as strong as the business surveys. While the reasons for this discrepancy are not clear, it... 8th March 2017 · 1 min read
