Europe Economics Update SNB on hold, but battle against deflation is not won The lack of upward pressure on the franc following the last ECB meeting has allowed the Swiss National Bank (SNB) to leave policy on hold for now. But deflation dangers are particularly severe in... 17th March 2016 · 1 min read
Europe Economics Update Norges Bank cuts rates, but concerns about debt growing We think that today’s interest rate cut by the Norges Bank will be followed by another 25bp reduction in June. But concerns about household debt will prevent further loosening beyond that. 17th March 2016 · 1 min read
China Chart Pack “Basically stable” renminbi slides lower Three months after the People’s Bank hinted that it would in future manage the renminbi relative to a currency basket rather than the dollar the jury is still out on what this means in practice... 17th March 2016 · 1 min read
Australia & New Zealand Data Response Australia Labour Market (Feb.) The recent stagnation in employment is probably just payback from the unjustified strength late last year rather than a sign that fears over the global economy have prompted businesses to postpone... 17th March 2016 · 1 min read
Japan Data Response External trade (Feb.) The trade surplus climbed to a fresh high in February, but should worsen again before long as the yen weakens and crude oil prices continue to rise. 17th March 2016 · 1 min read
Australia & New Zealand Data Response New Zealand GDP (Q4) The surprisingly strong rise in GDP in the fourth quarter of last year won’t prevent the RBNZ from cutting interest rates from 2.25% to 2.00% in the coming months, although it does make it a little... 17th March 2016 · 1 min read
Nordic & Swiss Economics Update What options does Sweden’s Riksbank have left? The growing unease over the potential impact of negative interest rates suggests that Sweden’s Riksbank will think twice about cutting the repo rate further below zero. It can draw on other policy... 17th March 2016 · 1 min read
Nordic & Swiss Economics Update Norges Bank cuts rates, but concerns about debt growing We think that today’s interest rate cut by the Norges Bank will be followed by another 25bp reduction in June. But concerns about household debt will prevent further loosening beyond that. 17th March 2016 · 1 min read
Nordic & Swiss Economics Update SNB on hold, but battle against deflation is not won The lack of upward pressure on the franc following the last ECB meeting has allowed the Swiss National Bank (SNB) to leave policy on hold for now. But deflation dangers are particularly severe in... 17th March 2016 · 1 min read
US Economics Update Fed dovish today, but should turn more hawkish later The Fed opted to leave its key policy rate unchanged at 0.25% to 0.50% today, while also lowering its projections for the pace of future rate hikes. Nevertheless, as inflation continues to rise and... 16th March 2016 · 1 min read
Latin America Economics Update Five things you wanted to know about Brazil (but were too afraid to ask) It’s becoming increasingly difficult to keep tabs on the deepening crisis in Brazil. How much of it is due to political problems? How much is economic? And what should investors watch for as events... 16th March 2016 · 1 min read
UK Economics Focus Budget 2016: Safety first Whether the chancellor meets his objective of eliminating the budget deficit by the end of this parliament depends upon how well the economy performs. Because we are more optimistic than the OBR about... 16th March 2016 · 1 min read
Energy Data Response US Weekly Petroleum Status Report US inventories of crude oil rose for the fifth consecutive time last week, despite a fall in US oil production and an increase in inputs to refineries. What’s more, gasoline stocks declined again as... 16th March 2016 · 1 min read
Commodities Update Investors remain bearish, despite rising prices Surging prices of a number of agricultural commodities since the middle of last month, helped by a weaker US dollar, pushed the S&P GSCI Agriculture index up by a little over 4%. Furthermore, the... 16th March 2016 · 1 min read
Industrial Metals Update Sentiment towards precious metals improves Precious metals prices continued their upward trend over the last month, bolstered by a weaker US dollar and a scaling back of fears over a hard landing in China. While gold benefited from further... 16th March 2016 · 1 min read
