Europe Economics Update Could the ECB finance a euro-zone investment fund? The idea that the ECB should finance a euro-zone investment fund instead of buying assets through a conventional quantitative easing programme has several potential benefits. But the scheme probably... 23rd December 2014 · 1 min read
Europe Economics Update Will the Russian crisis push the euro-zone into recession? The euro-zone’s direct trade and financial links with Russia are relatively weak. Nonetheless, even a modest negative impact at a time when the region is already facing renewed internal problems could... 17th December 2014 · 1 min read
Europe Economics Update What will ECB QE do to the euro? An ECB quantitative easing (QE) programme appears unlikely to be big enough to push the euro down sharply. But the prospect of continued stagnation in the economy and impending monetary tightening... 16th December 2014 · 1 min read
Europe Economics Update Sweden gearing up for unconventional monetary policy Sweden’s central bank today pushed back the date at which it expects to raise its policy rate from zero and revealed that it was preparing unconventional measures to make policy even more expansionary... 16th December 2014 · 1 min read
Nordic & Swiss Economics Update Sweden gearing up for unconventional monetary policy Sweden’s central bank today pushed back the date at which it expects to raise its policy rate from zero and revealed that it was preparing unconventional measures to make policy even more expansionary... 16th December 2014 · 1 min read
Europe Economics Update Are markets right to be worried about Syriza? The prospect of gaining power has prompted Greece’s anti-bailout party Syriza to soften its stance on some issues. But markets are still right to be worried, given uncertainty around its plans for... 15th December 2014 · 1 min read
Europe Economics Update SNB will need to act against the franc very soon While the Swiss National Bank (SNB) left policy on hold today, it reaffirmed its “utmost determination” to defend its ceiling for the franc exchange rate. It may introduce a negative interest rate to... 11th December 2014 · 1 min read
Nordic & Swiss Economics Update SNB will need to act against the franc very soon While the Swiss National Bank (SNB) left policy on hold today, it reaffirmed its “utmost determination” to defend its ceiling for the franc exchange rate. It may introduce a negative interest rate to... 11th December 2014 · 1 min read
Europe Economics Update Iceland prepares to lift capital controls but delays likely The Icelandic Government’s preparations to scale back capital controls early next year certainly represent a positive first step towards lifting the restrictions. However, we remain cautious at this... 10th December 2014 · 1 min read
Europe Economics Update What will be the fall-out from the latest Greek crisis? Contagion effects from Greece’s latest crisis have so far been reassuringly limited. But that may not last and the episode is a reminder that even those economies which have cut their budget deficits... 10th December 2014 · 1 min read
Europe Economics Update Iceland prepares to lift capital controls but delays likely The Icelandic Government’s preparations to scale back capital controls early next year certainly represent a positive first step towards lifting the restrictions. However, we remain cautious at this... 10th December 2014 · 1 min read
Europe Economics Update Spain’s housing recovery will be painfully slow While the recent rise in Spanish house prices is another encouraging sign for the economy, we expect the housing recovery to be extremely slow. The Spanish economy still needs to undergo a painful... 9th December 2014 · 1 min read
Europe Economics Update Greek yields to remain high despite programme extension The two-month extension to Greece’s EU programme, agreed yesterday by euro-zone finance ministers, was expected given recent wrangling over the Greek Budget. But the further austerity it could bring... 9th December 2014 · 1 min read
Europe Economics Update QE is coming, but it won’t revive the euro-zone ECB President Mario Draghi could hardly have sent clearer signals today that the central bank will launch a programme of quantitative easing very soon, probably in January. But we doubt that the... 4th December 2014 · 1 min read
Europe Economics Update Deflation a bigger threat to Sweden than Budget chaos The new Swedish Government lost a key parliamentary vote on its Budget today, throwing politics in the country into turmoil and raising the possibility of fresh elections. But the potential upheaval... 3rd December 2014 · 1 min read
Nordic & Swiss Economics Update Deflation a bigger threat to Sweden than Budget chaos The new Swedish Government lost a key parliamentary vote on its Budget today, throwing politics in the country into turmoil and raising the possibility of fresh elections. But the potential upheaval... 3rd December 2014 · 1 min read
