Europe Commercial Property Update Will the recent outperformance of Frankfurt office rents continue? A broad-based economic recovery combined with a modest development pipeline points to rents in the major German office markets making steady gains over the next few years. Yet the recent pick-up in... 28th March 2014 · 1 min read
Europe Data Response Euro-zone EC Survey (Mar.) The rise in the European Commission’s Economic Sentiment Indicator (ESI) in March provides another indication that the euro-zone economic recovery has built up a little momentum in the early months of... 28th March 2014 · 1 min read
ECB Watch ECB Watch - More policy action still ahead Developments over the last month have not clearly met either of the ECB’s two “contingencies” for further policy action. Nonetheless, the ongoing danger of deflation and dovish signals from several... 27th March 2014 · 1 min read
Europe Economics Update Euro-zone Monetary Indicators Monitor (Feb.) February’s weak euro-zone monetary data will add to pressure on the ECB to ease monetary policy further in the coming months. 27th March 2014 · 1 min read
Nordic & Swiss Economics Update Norwegian interest rates may be on hold until 2016 Although the Norges Bank left its monetary policy stance unchanged today, the Bank may yet need to push back its first projected interest rate hike from mid-2015 to 2016. 27th March 2014 · 1 min read
Global Markets Update Do capital flows explain the euro's strength? Balance of payments data suggest that capital inflows from abroad may have helped to push up the value of the euro. But if the current account surplus shrinks and the appetite for euro-zone financial... 26th March 2014 · 1 min read
Europe Data Response German Ifo Survey (Mar.) March’s German Ifo survey echoed the message from other recent surveys that sentiment towards the economy might be starting to soften a little bit. But the current conditions index still points to... 25th March 2014 · 1 min read
Europe Economics Update Danish central bank unlikely to tolerate further krone falls The fall in the Danish krone to its weakest level against the euro since early 2006 has increased speculation that Denmark’s central bank will have to respond to maintain the krone’s peg. We agree... 24th March 2014 · 1 min read
Global Markets Update Euro's strength against the US dollar unlikely to last The euro has been on an upward trend against the US dollar for nearly two years, largely reflecting improving sentiment towards the euro-zone economy and reduced fears of break-up. But the relative... 24th March 2014 · 1 min read
Europe Economics Weekly Rebalancing to weigh on euro-zone inflation further Recent data show that the euro-zone labour market is finally starting to strengthen and that labour costs are falling in the periphery relative to the core. But, while some economies are adjusting... 24th March 2014 · 1 min read
Nordic & Swiss Economics Update Danish central bank unlikely to tolerate further krone falls The fall in the Danish krone to its weakest level against the euro since early 2006 has increased speculation that Denmark’s central bank will have to respond to maintain the krone’s peg. We agree... 24th March 2014 · 1 min read
Global Economics Update Ukraine crisis is a far bigger threat to Russia than the West The crisis in Ukraine still has the potential to have a significant impact on the European economy and global financial markets. Nonetheless, the most likely outcome appears to be a limited exchange... 21st March 2014 · 1 min read
Europe Economics Update Belgian recovery unlikely to gather much more pace Although Belgium’s economy has returned to growth, the Government has made little progress in tackling the country’s underlying labour market problems. As a result, we doubt that the Belgian recovery... 20th March 2014 · 1 min read
Europe Economics Update SNB's battle with deflation goes on The combination of a sluggish economic recovery, very low inflation and a still strong currency will keep the Swiss National Bank (SNB) in very accommodative mode for the foreseeable future. 20th March 2014 · 1 min read
Nordic & Swiss Economics Update SNB’s battle with deflation goes on The combination of a sluggish economic recovery, very low inflation and a still strong currency will keep the Swiss National Bank (SNB) in very accommodative mode for the foreseeable future. 20th March 2014 · 1 min read
Europe Economics Update Veneto vote highlights Italy and EU policy challenges While the continuing independence vote in Italy’s Veneto region may prove of little direct importance, the poll highlights the breadth of challenges facing Mr Renzi’s new Government and the difficulty... 19th March 2014 · 1 min read
