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The recent surge in Swedish and Norwegian property prices has fuelled concerns that both economies’ central banks may be forced to ratchet up interest rates in order to prevent housing market bubbles from developing. But we doubt that house prices will …
17th November 2009
This report is only available as a PDF. Click to download. … Euro-zone Trade Balance (Sep.) …
This report is only available as a PDF. Click to download. … Euro-zone CPI (Oct. Final) …
16th November 2009
This report is only available as a PDF. Click to download. … Steady but unspectacular …
This report is only available as a PDF. Click to download. … Euro-zone GDP (Q3) …
13th November 2009
This report is only available as a PDF. Click to download. … Euro-zone Industrial Production (Sep.) & Spanish GDP (Q3) …
12th November 2009
This report is only available as a PDF. Click to download. … German ZEW (Nov.)/ French & Italian Industrial Prod’n (Sep.) …
10th November 2009
This report is only available as a PDF. Click to download. … German Industrial Production & Trade (Sep.) …
9th November 2009
This report is only available as a PDF. Click to download. … EC forecasts underline fiscal pressures …
The latest comments from the ECB suggest that it is edging slowly towards the policy stimulus exit. But the outstanding stock of central bank loans to ommercial banks will remain very high for some time and the threat of deflation should keep official …
5th November 2009
This report is only available as a PDF. Click to download. … Euro-zone Retail Sales & Spanish Industrial Prod’n (Sep.) …
The past month has brought further signs that the euro-zone is recovering, albeit quite gradually. For a start, July and August’s increases in industrial production suggest that output in the sector should expand by about 2% in Q3. Coming after a 1% fall …
4th November 2009
This report is only available as a PDF. Click to download. … Euro-zone Producer Prices (Sep.) & Final PMIs (Oct.) …
This report is only available as a PDF. Click to download. … Foundations in place for a consumer upturn …
2nd November 2009
This report is only available as a PDF. Click to download. … Euro-zone Flash CPI (Oct.) & Unemployment (Sep.) …
30th October 2009
The ECB will leave interest rates on hold at 1.0% at its November policy meeting and we do not expect it to announce any significant change in its policy of providing generous loans to the banking sector. The Bank might scale back its liquidity provision …
29th October 2009
This report is only available as a PDF. Click to download. … Euro-zone EC Survey (Oct.) …
Along with other regions, the euro-zone remains at risk from a prolonged and damaging bout of deflation. But the threat posed by deflation varies considerably between different countries. Spain and Ireland appear most vulnerable, while Germany and France …
28th October 2009
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 cycle. … Norges Bank becomes the third central bank to …
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 rapid. A modest improvement in global demand will mean …
This report is only available as a PDF. Click to download. … German Consumer Prices (1st Est. Oct.) …
This report is only available as a PDF. Click to download. … ECB Bank Lending Survey (Q3.) …
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. … Euro-zone Monetary Indicators Monitor …
27th October 2009
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 tightening will clearly be required in the medium term, but a …
26th October 2009
This report is only available as a PDF. Click to download. … Banks still reliant on ECB liquidity provision …
This report is only available as a PDF. Click to download. … Euro-zone Flash PMIs & German Ifo (Oct.) …
23rd October 2009
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 early as the markets expect. … Swedish Riksbank in no …
22nd October 2009
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 in some euro-zone economies to fare worse than others. …
21st October 2009
This report is only available as a PDF. Click to download. … Euro-zone on track to exit recession in Q3 …
19th October 2009
This report is only available as a PDF. Click to download. … Euro-zone Trade Balance (Aug.) …
16th October 2009
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 is far from over. Indeed, we expect further price …
15th October 2009
This report is only available as a PDF. Click to download. … Euro-zone CPI (Sep. Final) …
This report is only available as a PDF. Click to download. … Euro-zone Industrial Production (Aug.) …
14th October 2009
This report is only available as a PDF. Click to download. … German ZEW (Oct.) …
13th October 2009
This report is only available as a PDF. Click to download. … Are the ECB’s euro worries well founded? …
12th October 2009
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 in the region remains a long way off. … ECB still some …
8th October 2009
This report is only available as a PDF. Click to download. … German Industrial Production (Aug.) …
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 exports meant that the trade surplus rose to a five-year high …
6th October 2009
This report is only available as a PDF. Click to download. … Further fiscal support in Germany and France …
5th October 2009
This report is only available as a PDF. Click to download. … Euro-zone Unemployment (Aug.) …
1st October 2009
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 (contrary to our opinion) that its second allotment of …
This report is only available as a PDF. Click to download. … Euro-zone Flash CPI & German Unemployment (Sep.) …
30th September 2009
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 healthy state, the economy should remain pretty close to …
This report is only available as a PDF. Click to download. … Euro-zone EC Survey (Sep.) …
29th September 2009
This report is only available as a PDF. Click to download. … German Consumer Prices (1st Est. Sep.) …
28th September 2009
This report is only available as a PDF. Click to download. … Service sector to lead the economy out of recession …
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. … Euro-zone Monetary Indicators Monitor …
25th September 2009
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. … Irish recovery remains a distant …
24th September 2009
This report is only available as a PDF. Click to download. … German Ifo Survey (Sep.) …
