Europe Economics Update Norges Bank becomes the third central bank to raise rates The widely anticipated decision by the Norges Bank to raise interest rates from 1.25% to 1.50% made it the third central bank to tighten monetary policy, after Israel and Australia, during the current... 28th October 2009 · 1 min read
Europe Economic Outlook A slow but steady recovery (Q4 2009) Europe appears to have turned a corner, with the German and French economies already expanding in Q2 and most others set to follow suit in the third quarter. But the recovery is unlikely to be very... 28th October 2009 · 1 min read
Europe Commercial Property Update Laying the foundations for a stronger investment market Today’s ECB Bank Lending Survey suggests that the tightening in credit conditions faced by business across Europe may now be at an end. At the same time, however, lenders do not yet appear ready to... 28th October 2009 · 1 min read
Europe Economics Update Euro-zone Monetary Indicators Monitor (Oct.) There are still few signs that the ECB’s unlimited provision of liquidity to banks and improving conditions in the financial markets are prompting any pick-up in eurozone broad money and bank lending. 27th October 2009 · 1 min read
Europe Economics Update New tax cuts to support the German economy The new German Government’s economic programme includes additional tax cuts that make what was already a fairly generous fiscal package stand out as easily the largest in the euro-zone. Policy... 26th October 2009 · 1 min read
Nordic & Swiss Economics Update Swedish Riksbank in no hurry to raise interest rates The Swedish Riksbank’s latest economic forecasts suggest that a tightening in monetary policy remains a long way off. This supports our view that interest rates are unlikely to rise as quickly or as... 22nd October 2009 · 1 min read
Europe Economics Update Swedish Riksbank in no hurry to raise interest rates The Swedish Riksbank’s latest economic forecasts suggest that a tightening in monetary policy remains a long way off. This supports our view that interest rates are unlikely to rise as quickly or as... 22nd October 2009 · 1 min read
Europe Economics Update Who will cope best with the strong euro? With global demand recovering pretty strongly, for at least a few quarters, the ongoing rise of the euro is unlikely to halt the external sector revival in its tracks. Nonetheless, we expect exporters... 21st October 2009 · 1 min read
Europe Economics Update Spanish house prices set to fall much further The latest Spanish housing market data suggest that residential property prices are no longer falling as sharply as they were at the turn of the year. Nonetheless, we think the housing market downturn... 15th October 2009 · 1 min read
Europe Commercial Property Update Investment market activity picked up in Q3, but rental values fell The first data for 2009Q3 showed a pick-up in European commercial property investment activity, accompanied by a picture of broad stability for initial yields. At the same time, rental values declined... 14th October 2009 · 1 min read
Europe Commercial Property Update Rise in French industrial output is unlikely to support rental values On the face of it, the fourth consecutive monthly rise in French industrial output in August provides some grounds for hope that an improvement in industrial occupier demand might be imminent. However... 12th October 2009 · 1 min read
Europe Economics Update ECB still some way from the exit The ECB’s cautious tone in the press conference following its decision to leave interest rates on hold for the sixth consecutive month supports our view that any future tightening of policy conditions... 8th October 2009 · 1 min read
Europe Commercial Property Update Why have French yields risen more than Italian and Dutch yields? At first glance it seems a little surprising that initial yields in France are now above those in Italy and the Netherlands. Foreign investors’ share of the French investment market has fallen... 8th October 2009 · 1 min read
Europe Chart Pack Export outlook brightens The recent news from the euro-zone provides further signs that the economy emerged from recession in Q3. The data from the external sector have been especially encouraging. July’s sharp rise in... 6th October 2009 · 1 min read
Europe Commercial Property Update Oslo office take-up improves, but further rental falls still likely The rise in office take-up in Oslo is unlikely to signal an end to the occupier market downturn. But with the rental correction well advanced, Norway’s relatively strong economy should ensure that... 6th October 2009 · 1 min read
Europe Commercial Property Update Denmark 2009Q2 GDP points to prolonged occupier downturn The latest GDP data for Denmark showed that the pace of economic contraction accelerated in 2009Q2. Despite the weak state of the economy, however, rental values have held up fairly well so far. But... 1st October 2009 · 1 min read
