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
Europe Commercial Property Update What effect will the weaker krone have on Oslo industrial rents? The Norwegian krone is not a key driver of industrial rental values in Oslo. That said, at the margin, the currency’s fall is another reason to expect the recovery in industrial rental values over the... 19th March 2014 · 1 min read
Europe Economics Update Sedlabanki softens its stance but rates are still likely to rise In light of the recent drop in inflation, Iceland’s central bank kept interest rates unchanged today and suggested that rate hikes were less probable than they had been in February. However, with... 19th March 2014 · 1 min read
Europe Economics Update Is Spain's recovery building momentum? Although timely activity indicators suggest that the Spanish economy may have built a bit of momentum at the start of 2014, we suspect that the recovery will remain disappointingly weak. 19th March 2014 · 1 min read
Nordic & Swiss Economics Update Sedlabanki softens its stance but rates are still likely to rise In light of the recent drop in inflation, Iceland’s central bank kept interest rates unchanged today and suggested that rate hikes were less probable than they had been in February. However, with... 19th March 2014 · 1 min read
Europe Data Response German ZEW Survey (Mar.) & Euro-zone Trade (Jan.) March’s ZEW survey showed that recent concerns over the international environment have had a negative effect on sentiment amongst German investors. But current conditions in the economy remain buoyant... 18th March 2014 · 1 min read
Europe Economics Weekly Industrial malaise could soon start to ease Although January’s euro-zone industrial figures made disappointing reading, the recent weakness of the sector partly reflects a plunge in energy production. Encouragingly, orders data paint a more... 17th March 2014 · 1 min read
Europe Economics Update Renzi's recent reforms are the easy part The measures announced by the Italian PM yesterday represent a valuable short-term stimulus to the economy. But they also raise the cost of failing to implement more difficult structural reforms later... 13th March 2014 · 1 min read
Europe Data Response Euro-zone Industrial Production (Jan.) January’s euro-zone industrial production figures got the year off to a disappointingly soft start and underline the fragility of the recovery in both industry and the broader economy. 12th March 2014 · 1 min read
Europe Economics Update Disparity in Nordic inflation rates to be sustained for now February’s consumer prices figures for the Nordic countries revealed a continued disparity between subdued inflation rates in Sweden and Denmark on the one hand and much stronger price pressures in... 11th March 2014 · 1 min read
