Japan Chart Pack Bank of Japan kicking the can down the road Governor Ueda presided over his first policy meeting late last month and opted to keep all monetary policy settings, including Yield Curve Control (YCC), completely unchanged. To be sure, Mr Ueda also... 11th May 2023 · 11 mins read
Global Economics Update Exports set to rebound in March, but outlook still bleak While world trade fell further in February, the available data point to a rise in March, especially due to a strong rebound in China. But that rebound looks to have already reversed in April. And with... 9th May 2023 · 4 mins read
China Rapid Response China Trade (Apr.) China’s export volumes partially reversed March’s jump last month. Shipments of most consumer goods declined due to weak global demand except for those of electric vehicles. Given the gloomy outlook... 9th May 2023 · 3 mins read
US Data Response Intern’l Trade (Mar.), Productivity & Lab. Costs (Q1) A rebound in exports drove a sharp narrowing of the international trade deficit to a four-month low of $64.2bn in March, from $70.6bn in February, but the surveys continue to suggest that exports are... 4th May 2023 · 2 mins read
Canada Data Response International Trade (Mar.) The small rise in export volumes and slump in import volumes in March confirms that net trade improved last quarter. However, the weakness of imports means there is a risk that the preliminary... 4th May 2023 · 3 mins read
Emerging Markets Economics Update How feasible is a BRICS currency? Over the weekend, President-elect Donald Trump threatened a 100% import tariff on the BRICS countries unless they pledge not to create their own currency. In this note from 2023, we outlined the... 4th May 2023 · 6 mins read
Middle East & North Africa Economics Weekly Oil prices, Tunisia-IMF, Egypt default concerns The fall in oil prices this week has taken them to a level at which Saudi Arabia will be running a budget deficit and may have closed the door on the prospect of looser fiscal policy in the Gulf. It... 4th May 2023 · 8 mins read
Australia & New Zealand Data Response Australia International Trade (Mar. 2023) The widening of the trade surplus in recent months belies the negligible contribution that net exports will have made to Q1 GDP. Indeed, we think the weakness in import values last quarter primary... 4th May 2023 · 2 mins read
Australia & New Zealand Rapid Response Australia International Trade (Mar. 23) 4th May 2023 · 2 mins read
Latin America Economics Update Strength in exports unlikely to last The surge in exports from Latin America’s major economies in March suggests that the upside risks to our GDP growth and currency forecasts are building. But with advanced economies poised to fall into... 3rd May 2023 · 3 mins read
Africa Economics Update Kenya: the next default domino to fall? Concerns about Kenya’s public finances have intensified with the government recently delaying the payment of public employees’ salaries. Policymakers appear willing to honour public debt obligations... 3rd May 2023 · 5 mins read
Global Economics Update Lessons from the Q1 GDP data Available data for Q1 suggest that the global economy had a better start to the year than previously feared. That seems to have reflected the post zero-COVID rebound in China and its effects, a boost... 3rd May 2023 · 4 mins read
Middle East & North Africa Economics Update Egypt’s BoP improves, but pound pressure to persist Egypt’s balance of payments (BoP) position strengthened markedly late last year, but policymakers’ reluctance to live up to their reform promises appears to be causing capital inflows to slow to a... 2nd May 2023 · 3 mins read
