Europe Economics Update Euro-zone Monetary Indicators Monitor (Sep.) Today’s broad money data revealed that there are still few signs that the ECB’s provision of unlimited liquidity to banks is boosting broad money and credit growth. 25th September 2009 · 1 min read
Europe Economics Update Irish recovery remains a distant prospect Q2’s Irish GDP figures provide some hope that the economy is not about to go into full-blown meltdown. But a sustained period of positive growth remains a distant prospect. 24th September 2009 · 1 min read
Europe Commercial Property Update Irish and Greek retail rental values hit hard by downturn In our most recent Euro-zone Commercial Property Analyst (Vol. No. 2/2009) we forecast that Greece and Ireland would experience the largest falls in retail rental values. The agents’ latest data... 24th September 2009 · 1 min read
Europe Economics Update Norges Bank becoming more hawkish With Norway now on the path to recovery, the Norges Bank has begun to prepare the ground for future interest rate hikes. But while the Bank will probably tighten later this year, we do not expect... 23rd September 2009 · 1 min read
Nordic & Swiss Economics Update Norges Bank becoming more hawkish With Norway now on the path to recovery, the Norges Bank has begun to prepare the ground for future interest rate hikes. But while the Bank will probably tighten later this year, we do not expect... 23rd September 2009 · 1 min read
Europe Commercial Property Update Sweden: retail and industrial rental values are not in the clear yet Retail and industrial rental values in Sweden have held up well relative to the office sector since the onset of recession. This is somewhat surprising given the huge rise in unemployment and collapse... 22nd September 2009 · 1 min read
Europe Economics Update German election won’t prompt early fiscal tightening The outcome of Sunday’s German election may have some bearing on the pace of fiscal consolidation. But, whichever coalition prevails, fears of early and particularly aggressive policy tightening seem... 22nd September 2009 · 1 min read
Europe Economics Update Swiss National Bank maintains strong policy support After leaving the target for three-month interest rates at just 0.25% today, the SNB struck a slightly less pessimistic tone than it had previously. But while the Bank has revised up its inflation... 17th September 2009 · 1 min read
Europe Economics Update Irish bad bank unlikely to get credit flowing again The release of further details of the Irish Government’s “bad bank” plans does little to change our view that bank lending will continue to contract for a sustained period. Ultimately, further... 17th September 2009 · 1 min read
Nordic & Swiss Economics Update Swiss National Bank maintains strong policy support After leaving the target for three-month interest rates at just 0.25% today, the SNB struck a slightly less pessimistic tone than it had previously. But while the Bank has revised up its inflation... 17th September 2009 · 1 min read
Europe Economics Update Car production to remain in the doldrums On the face of it, the surge in euro-zone new car sales over recent months seems like good news for the region’s beleaguered vehicle producers. Nonetheless, we doubt that this will prompt much of a... 16th September 2009 · 1 min read
Europe Commercial Property Update Euro-zone commercial property still looks pricey relative to equities The stock market rally has pushed the equity dividend yield down, making euro-zone commercial property look more attractive relative to equities, on one measure at least. However, the spread of the... 15th September 2009 · 1 min read
Non-Euro Europe Commercial Property Chart Pack Recession weighs on rental values (Sep 09) Weak occupier demand pushed rental values down in most markets. Investment activity was very subdued, particularly in Emerging Europe. Initial yields in Emerging Europe rose in all sectors while... 10th September 2009 · 1 min read
Europe Economics Update Euro-zone recovery will be slow but steady The clear improvement in indicators of domestic activity and an upward revision to our forecast for the US have prompted us to raise our projection for euro-zone GDP growth next year. The recovery is... 9th September 2009 · 1 min read
Europe Economics Update ECB signals policy tightening a long way off After leaving interest rates unchanged at 1.0%, the ECB once again underlined its reluctance to follow other central banks in implementing bolder unconventional measures. Nonetheless, any tightening... 3rd September 2009 · 1 min read
Europe Economics Update Swedish interest rates on hold for some time to come The decision by the Swedish Riksbank to keep interest rates on hold at 0.25% and signal that rates may remain unchanged for around another year supports our view that markets may have got ahead of... 3rd September 2009 · 1 min read
