Europe Data Response Euro-zone Flash CPI (Nov.) November’s weaker-than-expected euro-zone consumer prices figures gave a final green light for the ECB to announce much-needed additional monetary policy stimulus at tomorrow’s Governing Council... 2nd December 2015 · 1 min read
Europe Economics Update Euro-zone Fiscal Monitor (Nov.) The latest fiscal data provided further evidence that the peripheral countries are improving their budgetary positions. But with some of these countries planning to loosen the fiscal reins next year... 1st December 2015 · 1 min read
Europe Data Response Euro-zone Unemployment (Oct.) & Final Mfg PMI (Nov.) October’s euro-zone unemployment data confirmed that the region’s steady labour market recovery has continued. But the bigger picture is that unemployment remains too high to boost wage growth and... 1st December 2015 · 1 min read
Europe Data Response Swiss GDP (Q3) The Swiss GDP release revealed that growth stalled in Q3 and November’s manufacturing PMI points to worse to come. This raises the likelihood that the Swiss National Bank (SNB) will increase its... 1st December 2015 · 1 min read
Nordic & Swiss Data Response Swiss GDP (Q3 15) The Swiss GDP release revealed that growth stalled in Q3 and November’s manufacturing PMI points to worse to come. This raises the likelihood that the Swiss National Bank (SNB) will increase its... 1st December 2015 · 1 min read
Europe Data Response German Flash CPI (Nov.) November’s small rise in German HICP inflation appears to have reflected energy effects. With the core rate still very subdued, there is nothing here to put the ECB off increasing its policy support... 30th November 2015 · 1 min read
Europe Data Response Swedish & Danish GDP (Q3) Sweden’s economy posted yet another decent expansion in Q3, which was encouragingly broad-based. But Danish GDP contracted due to weak net exports, suggesting that the euro-zone’s summer slowdown may... 30th November 2015 · 1 min read
Europe Economics Weekly Stronger activity surveys won’t deter ECB Euro-zone activity surveys for November, released last week, suggest that the economic recovery regained some pace in Q4. But the rates of growth that they imply would still only reduce the spare... 27th November 2015 · 1 min read
Europe Commercial Property Update Is the ECB right to be worried about commercial property pricing? The ECB has expressed concern at the high level of commercial property pricing. However, with alternative asset class yields set to stay low and the potential for further rental value growth, we think... 27th November 2015 · 1 min read
Europe Data Response EC Business & Consumer Survey (Nov.) November’s EC consumer and business survey supported the message from other survey indicators released earlier this week that after Q3’s slowdown the eurozone’s economic recovery may have regained... 27th November 2015 · 1 min read
ECB Watch Will the ECB meet expectations? The question is not whether the ECB’s Governing Council will loosen monetary policy at its meeting on December 3rd, but rather whether it will do so decisively enough to meet the very strong... 26th November 2015 · 1 min read
Europe Economics Update SNB to limit but not prevent franc appreciation The latest comments from Chairman Thomas Jordan suggest that the Swiss National Bank will act decisively to limit franc strength, including through further direct intervention in FX markets. But we... 26th November 2015 · 1 min read
Europe Economics Update Euro-zone Monetary Indicators Monitor (Oct.) Euro-zone monetary data showed some signs of improvement in October, but continue to point to low inflation and slow growth, strengthening the case for the ECB to increase its stimulus next week. 26th November 2015 · 1 min read
Nordic & Swiss Economics Update SNB to limit but not prevent franc appreciation The latest comments from Chairman Thomas Jordan suggest that the Swiss National Bank will act decisively to limit franc strength, including through further direct intervention in FX markets. But we... 26th November 2015 · 1 min read
Europe Economics Update Historic policy split to push euro below parity The prospect of a historically large divergence between US and euro-zone monetary policy looks set to push the euro below parity versus the US dollar for the first time since late 2002. 25th November 2015 · 1 min read
