Emerging Europe Economics Update Hungary to keep rates at record low well into next year The National Bank of Hungary’s post-meeting press release reinforced the message that the MPC sees little pressure to raise interest rates. Indeed, with inflation likely to remain low, and economic... 23rd September 2014 · 1 min read
Commodities Update Commodities demand unlikely to get a boost anytime soon The increase in the flash PMI for China has helped to assuage fears about a hard landing. However, the index is still low by historical standards and the fall in the euro-zone’s flash PMI highlights... 23rd September 2014 · 1 min read
Europe Data Response Euro-zone Flash PMIs (Sep.) The small fall in the euro-zone composite PMI in September added to worrying signs that the region’s economy barely expanded in Q3 after Q2’s stagnation. 23rd September 2014 · 1 min read
Europe Economics Weekly Low uptake dashes ECB’s hopes for TLTROs The low uptake at the first of the ECB’s Targeted Longer-Term Refinancing Operations (TLTROs) last week supported our view that the policy is unlikely to be successful at boosting bank lending. It... 19th September 2014 · 1 min read
Europe Data Response Iceland GDP (Q2) Iceland’s economy contracted in Q2 for the third consecutive quarter, raising questions over the sustainability of the economic recovery. But there are still reasons to believe that its economy will... 19th September 2014 · 1 min read
Nordic & Swiss Data Response Iceland GDP (Q2 14) Iceland’s economy contracted in Q2 for the third consecutive quarter, raising questions over the sustainability of the economic recovery. But there are still reasons to believe that its economy will... 19th September 2014 · 1 min read
Global Economics Focus How does “Draghi-nomics” compare to Abenomics? ECB President Mario Draghi’s call at Jackson Hole for fiscal policy to play a greater role alongside monetary policy in boosting aggregate demand has prompted some to label the change of tone “Draghi... 18th September 2014 · 1 min read
Europe Data Response Ireland GDP (Q2) Ireland’s rapid growth in Q2 underlined its status as the euro-zone periphery’s poster boy but could prompt some concerns that it has entered another unsustainable boom. 18th September 2014 · 1 min read
Europe Economics Update What to expect from the TLTROs With the first of the ECB’s Targeted Longer Term Refinancing Operations taking place this Thursday,this Update addresses some of the key questions regarding their aims and likely effects. While... 17th September 2014 · 1 min read
Europe Commercial Property Update Do German office markets face an impending oversupply risk? The short-term blip in German growth will not significantly impact office markets and, although development pipelines are growing, we expect to see continued office rental value growth in the next few... 16th September 2014 · 1 min read
Europe Economics Update Early loan repayment underlines Irish progress The agreement amongst European finance ministers over the weekend that Ireland can start early repayment of its IMF loan highlighted again the rapid improvement of market confidence in the peripheral... 16th September 2014 · 1 min read
Europe Data Response German ZEW Survey (Sep.) & Euro-zone Labour Costs (Q2) September’s small fall in the German ZEW investor expectations index and thesharper decline in the current conditions index added to evidence that the recovery inthe euro-zone’s largest and strongest... 16th September 2014 · 1 min read
Europe Economics Update Sweden’s return to the left won’t banish stagnation fears Sweden’s general election yesterday resulted in defeat for the centre-right coalition Alliance Government after two terms in power but produced no overall majority for the centre-left opposition... 15th September 2014 · 1 min read
Europe Economics Update Vote of confidence to offer limited hope for France The French Government looks set to win a vote of confidence tomorrow, allowing it to pursue long-overdue business friendly reforms. But it could take many years for the reforms to bear fruit and... 15th September 2014 · 1 min read
Europe Commercial Property Update What impact will a weak Finnish economy have on Helsinki office rents? Despite weak economic and employment growth, prime office rents in Helsinki should rise a little further in the next couple of years. Further ahead, however, centrally-located office markets may then... 15th September 2014 · 1 min read
Europe Data Response Euro-zone Trade (Jul.) July’s euro-zone trade data showed that the region’s exporters continued to struggle,suggesting that the uncertain international environment was taking its toll andoffsetting the benefits of a weaker... 15th September 2014 · 1 min read
