Nordic & Swiss Economics Update Deflation to trump Riksbank’s household debt concerns The Riksbank’s report on household indebtedness underscores the magnitude of the problem and the need for it to be addressed. But we continue to think that the Bank will cut interest rates as... 7th May 2014 · 1 min read
Europe Economics Update Cyprus unlikely to achieve a 'clean exit' The improvement in investor sentiment towards the euro-zone has allowed even beleaguered Cyprus to tap the markets for funding. But the nation remains a long way from replicating Ireland’s ‘clean exit... 2nd May 2014 · 1 min read
Europe Economics Update Euro-zone Fiscal Monitor (Apr.) Although progress is still slow, the latest euro-zone fiscal data provided more evidence that peripheral governments are gradually strengthening their fiscal positions. 2nd May 2014 · 1 min read
Europe Economics Update Are inflation expectations still well anchored? Although survey measures of short-term inflation expectations have fallen sharply, medium-term forecasts have so far remained well anchored. However, with deflationary pressures building, a de... 1st May 2014 · 1 min read
Europe Economics Update Belgian recovery likely to remain lacklustre Figures released today showed the Belgian recovery gaining a little momentum in the first quarter. But sharp falls in sentiment in March and April suggest that growth may yet slow later this year. 30th April 2014 · 1 min read
Europe Economics Update Slovenia’s political crisis shows flagging reform appetite The prospect of early elections in Slovenia is unlikely to spark significant market pressures. But it highlights how a dysfunctional political system is undermining the country’s economic reform... 30th April 2014 · 1 min read
Europe Economics Update Euro-zone Monetary Indicators Monitor (Mar.) March’s euro-zone monetary data underlined the continued weakness of the region’s financial system and will help to maintain the pressure on the ECB to ease monetary policy further over the coming... 29th April 2014 · 1 min read
Europe Economics Update Labour market still a constraint on Finland's recovery The prolonged deterioration in Finland’s labour market may finally be coming to an end, according to data published earlier this week. But we suspect that employment will pick up very slowly at best. 25th April 2014 · 1 min read
Nordic & Swiss Economics Update Labour market still a constraint on Finland’s recovery The prolonged deterioration in Finland’s labour market may finally be coming to an end, according to data published earlier this week. But we suspect that employment will pick up very slowly at best. 25th April 2014 · 1 min read
Europe Economics Update Five key questions on QE in the euro-zone The European Central Bank (ECB) appears finally to be seriously considering the option of implementing quantitative easing (QE). While we have long argued that QE in the euro-zone was a more likely... 22nd April 2014 · 1 min read
Europe Economics Update France’s reform effort inches forward Although France’s short-term outlook remains weak, the new French Government’s recent policy announcements provide hope that France is slowly tackling its significant competitiveness problems. 16th April 2014 · 1 min read
Europe Economics Update Can the ECB get the euro down? The ECB’s battle against deflation is turning into a fight to lower the euro exchange rate. But it is far from clear that the central bank will act sufficiently to bring the currency down far enough. 15th April 2014 · 1 min read
Europe Economics Update Austria’s recovery still faces obstacles Austria is likely to remain one of the best performing euro-zone core economies over the coming years. Even so, the banking sector remains a weak spot and is particularly exposed to an intensification... 15th April 2014 · 1 min read
Europe Economics Update ECB belatedly waking up to deflation dangers Recent speeches from officials suggest that the ECB has finally accepted that the threat of deflation in the euro-zone warrants further policy action. But it is far from clear that any action will be... 14th April 2014 · 1 min read
Europe Economics Update Greece's return to the market may not be all positive Greece’s successful bond issue highlights the progress that the country has made in recent years. But an increased use of market funding creates its own risks for Greece’s recovery. 10th April 2014 · 1 min read
Europe Economics Update Riksbank signals greater chance of a rate cut The Swedish Riksbank pushed back the date at which it expects to start raising interest rates and signalled that the probability of a rate cut in the near term has grown. We continue to think that low... 9th April 2014 · 1 min read
