Europe Economics Update ECB steps up the pace The ECB’s 75bp interest rate cut to 2.5% is an encouraging sign that the Bank recognises the severity of the economic downturn after earlier hints that a more modest reduction was likely. Although... 4th December 2008 · 1 min read
Europe Economics Update Swedish interest rates plunge by 1.75% The decision by the Swedish Riksbank to slash interest rates by 175 basis points highlights the degree to which the economic outlook has deteriorated. With the downturn set to worsen next year... 4th December 2008 · 1 min read
Nordic & Swiss Economics Update Swedish interest rates plunge by 1.75% The decision by the Swedish Riksbank to slash interest rates by 175 basis points highlights the degree to which the economic outlook has deteriorated. With the downturn set to worsen next year... 4th December 2008 · 1 min read
Europe Chart Pack Recession spreads to services Recent data suggest that the euro-zone economic downturn is gathering pace. Not only do the latest business surveys point to further steep falls in industrial output, but they also indicate that... 3rd December 2008 · 1 min read
Europe Economics Update Economic fundamentals to keep bond spreads elevated The recent surge in the spread between peripheral euro-zone government bond yields and the equivalent German yield is to a large part down to rising risk aversion in the financial markets. But the... 2nd December 2008 · 1 min read
Europe Economics Update Italian fiscal plan not all that it’s cracked up to be The Italian Government’s announcement of an economic package to help reinvigorate the economy suggests that Prime Minister Berlusconi may have reverted to his free spending ways. But the package looks... 28th November 2008 · 1 min read
Europe Economics Update Latest Spanish fiscal package won't save the day The latest Spanish fiscal package shows that the Government is willing to pull out all the stops to prevent a steep economic contraction. But with the effects on the economy of the housing market... 27th November 2008 · 1 min read
Europe Economics Focus Where will the downturn leave the public finances? While governments across the developed world are stepping in to shore up their ailing economies, the fiscal boost in the euro-zone looks set to be fairly modest. With a gradual economic recovery... 27th November 2008 · 1 min read
ECB Watch ECB to deliver 50bp, but probably no more just yet While the latest comments from the ECB suggest that it is not prepared to slash interest rates quite as aggressively as some other central banks, at least another 50bp reduction this month seems like... 27th November 2008 · 1 min read
Europe Commercial Property Focus Forecasting European Commercial Property - Our Approach For clients of our new European Commercial Property service, this note provides a guide to our philosophy and forecast methodology. In short, our approach to analysing and forecasting commercial... 26th November 2008 · 1 min read
Europe Economics Update EC’s fiscal stimulus will not save the economy The European Commission’s call for a fiscal stimulus of 1.5% of GDP makes little difference to the economic outlook. Indeed, some European governments will argue that they have already done enough... 26th November 2008 · 1 min read
Europe Economics Update Iceland: Outlook bleak, despite IMF rescue The joke about the differences between Iceland and Ireland (one letter and about six months) might provide some encouragement to the latter in the light of recent signs that Iceland is turning the... 20th November 2008 · 1 min read
Nordic & Swiss Economics Update Iceland: Outlook bleak, despite IMF rescue Iceland’s $4.6bn IMF-led rescue package will provide the economy with much-needed funds to help cover its external financing requirement. But it will not be enough to prevent a severe and prolonged... 20th November 2008 · 1 min read
Europe Economics Update External sector leading Italy into a deep recession Recent data on the Italian external sector has painted a worrying picture of the outlook for exporters. With the domestic economy in no position to pick up the slack, we think that the consensus view... 18th November 2008 · 1 min read
Europe Economics Update German pay deal confirms diminishing price pressures The latest information on pay negotiations in Germany supports our view that any pick-up in wages growth in the coming months will be modest and short-lived. While this is bad news for German... 12th November 2008 · 1 min read
Europe Economics Update ECB lagging, but rates have much further to fall Following today’s decision to cut interest rates by 50bp to 3.25%, President Trichet’s comments confirmed that the ECB is not about to slash rates as aggressively as the Bank of England. Nonetheless... 6th November 2008 · 1 min read
