Europe Economics Update The ECB joins the forward guidance club The ECB’s unprecedented step in joining other central banks in providing forward guidance on future policy is a welcome one. But it won’t transform the outlook for the euro-zone economy. 4th July 2013 · 1 min read
Europe Economics Update Dutch households sinking deeper into the doldrums Burdened by the euro-zone’s most indebted households, the Netherlands is stuck in its third recession in five years. With pressure on households likely to intensify, the country’s AAA-rating will come... 4th July 2013 · 1 min read
Europe Chart Pack Market pressures threaten fragile recovery Euro-zone activity indicators have maintained a slightly firmer tone over the last month, providing tentative signs of an upturn in the region’s economy. Nonetheless, those indicators generally... 3rd July 2013 · 1 min read
Europe Economics Update Riksbank’s economic forecasts still look too optimistic The Swedish Riksbank left interest rates unchanged at 1.0% today and signalled that it still expects to begin raising rates in late 2014. However, we still think that the Bank’s economic forecasts are... 3rd July 2013 · 1 min read
Nordic & Swiss Economics Update Riksbank’s economic forecasts still look too optimistic The Swedish Riksbank left interest rates unchanged at 1.0% today and signalled that it still expects to begin raising rates in late 2014. However, we still think that the Bank’s economic forecasts are... 3rd July 2013 · 1 min read
Europe Economics Update Euro-zone Fiscal Monitor (Jun.) Although the peripheral economies remain mired in recession, some fiscal progress is being made, particularly in Greece. 2nd July 2013 · 1 min read
Europe Commercial Property Update Ireland – a false dawn for property? News that the Irish economy is back in recession is a reminder that Dublin’s property market still faces significant headwinds. Indeed, all-property capital values in Dublin could yet suffer another... 2nd July 2013 · 1 min read
Europe Data Response Euro-zone Flash CPI (Jun.) & Unemployment (May) The latest euro-zone inflation and labour market figures brought a slight note of caution after the recent improvement in some of the region’s activity indicators. 1st July 2013 · 1 min read
Europe Economics Weekly Banking union: progress of sorts Recently, euro-zone policy makers have made commendable progress towards banking union. They have now agreed an ‘operational framework’ for the region’s bail-out fund, the ESM, to recapitalise banks... 1st July 2013 · 1 min read
ECB Watch Still mulling more support; exit remains distant With the news that the US Fed is set to taper its QE programme hitting euro-zone financial markets, President Draghi should provide reassurance about ongoing ECB policy support at the forthcoming... 27th June 2013 · 1 min read
Europe Data Response Euro-zone EC Survey (Jun.) The EC consumer and business survey for June made pretty encouraging reading, but it remains too soon to conclude that the euro-zone is on the cusp of an economic recovery. 27th June 2013 · 1 min read
Europe Economics Update Euro-zone Monetary Indicators Monitor (May 13) May’s monetary data revealed that bank credit contracted again, reinforcing our belief that the ECB will be forced into further action by the end of the year. 27th June 2013 · 1 min read
Europe Commercial Property Update Which markets are most at risk from the rise in bond yields? The recent rise in bond yields is unlikely to feed automatically into higher European property yields. But to the extent that it increases concerns about the growth outlook and debt burdens, the... 26th June 2013 · 1 min read
Europe Economics Focus Can Slovenia avoid a bail-out? In spite of Slovenia’s low public debt and small banks, the country is in a very precarious position given the scale of the rot in the banking sector. To avoid a bail-out, the Government will need to... 26th June 2013 · 1 min read
Europe Commercial Property Update French logistics market to hold up better than office or retail The post-credit crunch underperformance by logistics capital values in France relative to the office and retail sectors may leave scope for a period of outperformance. Yet this morning’s business... 25th June 2013 · 1 min read
Europe Economics Update Is another Greek election in the offing? While the withdrawal of the smallest party from the Greek coalition is certainly an unwelcome development, for now at least, the Government should be able to limp on. But if the Troika forces it to... 24th June 2013 · 1 min read
