Middle East & North Africa Economics Update Egypt keeps rates unchanged, but large hikes lie ahead The decision by Egypt’s central bank to keep its key interest unchanged at 11.75% today, despite the recent sharp rise in inflation, suggests that large rate hikes are only likely once an IMF deal is... 22nd September 2016 · 1 min read
US Housing Market Data Response Existing Home Sales (Aug. 16) Existing home sales fell in August, as extremely tight market conditions outweighed any boost to housing demand from favourable economic trends. With the inventory of homes for sale at its lowest for... 22nd September 2016 · 1 min read
Capital Daily US Treasury yields still likely to climb, as the Fed tightens policy 22nd September 2016 · 1 min read
UK Commercial Property Update Was the uptick in industrial yields unwarranted? Forward-looking aspects of industrial and manufacturing surveys have acted as a fair lead indicatorfor industrial yield movements three and six months ahead. And, with the initial post-referendumshock... 22nd September 2016 · 1 min read
Africa Economics Update South Africa: MPC Statement hints tightening cycle complete Today’s statement from the South African Monetary Policy Committee suggests that rates in the country are no longer likely to be hiked later this year. 22nd September 2016 · 1 min read
Global Trade Monitor Downturn easing, but outlook remains bleak The volume of world trade appears to have recovered a bit in the past few months.Even so, the prospects for global trade over the coming years remain poor, and couldworsen dramatically if Donald Trump... 22nd September 2016 · 1 min read
Latin America Data Response Mexico Bi-Weekly Consumer Prices (Sep.) The rise in Mexican inflation in the first half of this month, to 2.9% y/y from 2.7% y/y over August as a whole, alongside the sharp drop in the peso over the past couple of weeks, means that there is... 22nd September 2016 · 1 min read
Middle East & North Africa Chart Pack Saudi Arabia likely to stick with fiscal austerity There have been signs in recent weeks that the sharp slowdown in the Saudi economy caused by fiscal austerity may have prompted the authorities to look at alternative solutions to deal with the... 22nd September 2016 · 1 min read
UK Economics Update Will the Term Funding Scheme boost bank lending? While the Bank of England’s Term Funding Scheme (TFS) – which started this week – should prevent a sharp slowdown in bank lending ahead, it is unlikely to provide a meaningful boost. Indeed, while the... 22nd September 2016 · 1 min read
Latin America Data Response Brazil IPCA-15 (Sep. 16) Data to mid-September provide the first signs that Brazilian food inflation – which has been a source of recent concern for the central bank – is starting to ease. But while that could put an interest... 22nd September 2016 · 1 min read
Emerging Europe Economics Update Turkish MPC shifts focus to growth The Turkish MPC’s decision to cut its overnight lending rate by a further 25bp was accompanied by a clear shift in the Council’s focus to concerns about the economic slowdown. This provides even more... 22nd September 2016 · 1 min read
UK Data Response CBI Industrial Trends Survey (Sep.) According to today’s CBI Industrial Trends Survey, there are few signs that the Brexit vote has knocked manufacturing activity off course in Q3. 22nd September 2016 · 1 min read
India Economics Update Government moves a step closer to establishing new MPC The government’s announcement today of the names of three members marks another step towards the creation of a policy-setting monetary policy committee (MPC). The announcement also confirms that the... 22nd September 2016 · 1 min read
Industrial Metals Update China’s metals imports remained subdued in August August was another weak month for China’s metals imports. In some cases, lower supply and higher prices have weighed on import volumes. However, relatively soft underlying demand could have also... 22nd September 2016 · 1 min read
UK Housing Market Update Have lenders become more cautious? Following a sharp dip in the run-up to and immediately following the referendum, buyer confidence in the UK housing market looks to be stabilising. But there are indications of reduced risk appetite... 22nd September 2016 · 1 min read
Japan Economics Update How will the BoJ conduct policy in future? The key tool for monetary loosening in the Bank of Japan’s new framework will be the short-termpolicy rate, which now stands at -0.1%, rather than the new target for 10-year JGB yields. 22nd September 2016 · 1 min read
