ECB Watch Maintaining a supportive stance The ECB will leave interest rates at 1.0% at its October policy meeting and is unlikely to signal any significant change in its supportive policy stance for the future. The Bank will probably argue... 1st October 2009 · 1 min read
Europe Economics Focus Can France maintain its lead? France is likely to give up its recent status as the euro-zones star performer in the next two years, losing ground mainly to Germany. But with household finances and the banking sector in a fairly... 30th September 2009 · 1 min read
Europe Commercial Property Update Industrial yields have risen, but differential over offices remains low Initial yields on European industrial property have risen further from their trough in mid-2007 than office and retail yields. This could be due to a sharper downward revision in investors’ rental... 28th September 2009 · 1 min read
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
