Europe Economics Update Euro-zone Monetary Indicators Monitor (Sep.) September’s euro-zone money and credit data continued the positive trend of recentmonths, consistent with a further steady expansion of the economy. Nevertheless,the data suggest that inflation will... 27th October 2016 · 1 min read
Metals Data Response China and India’s gold imports (Sep.) The latest import data out of China and India show that demand for gold in the two countries improved in September. We expect buying to have accelerated in October as consumers take advantage of... 27th October 2016 · 1 min read
UK Data Response Preliminary estimate of GDP (Q3) Today’s GDP figures confirmed that the immediate economic impact of the vote to leave the EU has not been nearly as severe as many had initially expected. 27th October 2016 · 1 min read
Nordic & Swiss Economics Update Riksbank set to loosen further but tide will turn before long It seems very likely that the Riksbank will extend its bond purchase programme after it stepped up its dovish rhetoric and suggested that it might even cut the repo rate further. But given our... 27th October 2016 · 1 min read
Industrial Metals Update China Industrial Metals Demand Monitor (Sep.) Although the broad measure of China’s industrial production eased back in September, metals-intensive sectors continued to do well. However, we would caution that the recent rallies in the prices of... 27th October 2016 · 1 min read
Africa Chart Pack Africa: Political risk takes centre stage Political developments across Africa have raised risk perceptions in several key economies. Allies of South Africa’s president made yet another attempt to force the resignation of Pravin Gordhan, the... 27th October 2016 · 1 min read
UK Commercial Property Data Response RICS Commercial Property Market Survey (Q3) The latest RICS Commercial Property Survey highlighted that occupier and investor demand have improved, while supply conditions are likely to be constrained. Both factors should provide support to... 27th October 2016 · 1 min read
Nordic & Swiss Economics Update Norges Bank leaves policy unchanged, but rate cuts to come The Norges Bank left its key policy rate on hold today and reiterated that no change was likely in the near future. But we think that more monetary loosening will be needed in 2017. 27th October 2016 · 1 min read
RBA Watch Rate cutting cycle may not be finished yet While the third quarter inflation data suggest that there is an outside chance that the Reserve Bank of Australia will cut interest rates from 1.50% to 1.25% at its policy meeting on Tuesday 1 st... 27th October 2016 · 1 min read
Latin America Economics Update Politics help Lat Am markets to outperform Latin America’s financial markets have performed strongly this month thanks to rising commodity prices, as well as favourable political developments in the cases of Brazil and Mexico. The exception is... 26th October 2016 · 1 min read
Global Economics Update World still awash with liquidity even as Fed prepares to hike Broad money and credit have been growing at a steady pace, against the backdrop of exceptionally loose global monetary conditions. In advanced economies, growth in lending to the private sector has... 26th October 2016 · 1 min read
Energy Data Response US Weekly Petroleum Status Report (26th Oct. 16) US crude oil stocks fell last week as demand from refineries picked up. However, a rise in production and an uptick in imports meant the decline in stocks was only small. 26th October 2016 · 1 min read
US Housing Market Focus Explaining recent developments in housing equity withdrawal Our estimate of housing equity withdrawal (HEW) shows that, in aggregate, households have yet to return to using their homes as a piggy bank. While the factors holding HEW back are likely to ease the... 26th October 2016 · 1 min read
Middle East & North Africa Chart Pack Egypt edges closer to IMF deal as shortages bite The Egyptian government has inched closer to an IMF financing package over the past month after securing a US$2bn deposit from Saudi Arabia. This makes up a third of the bilateral financing that the... 26th October 2016 · 1 min read
US Housing Market Data Response New Home Sales (Sep.) The small 3.1% m/m rise in new home sales in September comes after a significant downward revision to August’s reading, highlighting that low inventory levels are preventing any sustained rise in... 26th October 2016 · 1 min read
