UK Economics Weekly BoE should be talking tough on interest rates not wages The Bank of England’s Chief Economist, Huw Pill, came under fire this week for comments that implied businesses should stop raising their prices and workers should stop asking for pay increases . But... 28th April 2023 · 5 mins read
Emerging Europe Economics Weekly CEE rate cuts coming into view, FX rally may not last Central banks across Central and Eastern Europe provided firmer signs this week that, with inflation now declining, monetary loosening may soon be on the cards. But there are still clearly big... 28th April 2023 · 10 mins read
Australia & New Zealand Economics Weekly House prices in New Zealand will keep falling The RBNZ's proposal to ease loan-to-value ratio (LVR) restrictions is unlikely to be a panacea for New Zealand's ailing housing market. With housing still far too unaffordable for most, house prices... 28th April 2023 · 9 mins read
Japan Data Response Activity (Mar. 23) & Tokyo CPI (Apr. 23) The end-month data rush only adds to the dilemma the Bank of Japan is facing. While labour market conditions are now easing in earnest, underlying inflation is set to surpass 4% at the national level... 28th April 2023 · 4 mins read
Africa Chart Pack Power cuts ripping through South Africa’s economy Persistent and deepening electricity outages in South Africa are wreaking economic havoc. Almost half of generating capacity was offline this month, triggering severe “loadshedding”. Output in energy... 27th April 2023 · 12 mins read
China Chart Pack Financial flows, not trade, leading CNH expansion The renminbi surpassed the US dollar to become the most-commonly-used currency in China’s cross-border transactions for the first time last month. Part of the increase – the part that has received... 27th April 2023 · 11 mins read
Latin America Economics Update Colombia: political risks back in the spotlight The replacement of Colombia’s market-friendly finance minister José Antonio Ocampo with a close ally of President Petro is likely to lead to a sell-off in Colombia’s financial assets when markets open... 27th April 2023 · 3 mins read
Europe Economics Update Euro-zone wage growth to slow only gradually Wage growth in the euro-zone is likely to remain above the level compatible with 2% core inflation this year and only gradually return to a more sustainable level thereafter. 27th April 2023 · 4 mins read
Japan Rapid Response Japan Labour Market (Mar. 2023) & Tokyo CPI (Apr. 2023) 27th April 2023 · 2 mins read
Latin America Chart Pack Monetary policy stance slowly shifting The raft of inflation data over the past couple of weeks will have provided some relief for Latin American central banks, with headline rates in most countries now on a clear downward trajectory. In... 26th April 2023 · 15 mins read
Canada Chart Pack Housing turnaround makes the Bank’s job harder House prices edged up in March and the sharp rise in the sales-to-new listing ratio suggests there are further gains to come. As the improvement has been driven mainly by a collapse in new listings... 26th April 2023 · 8 mins read
Emerging Europe Chart Pack Inflation past the peak, but big challenges lie ahead Inflation has finally turned a corner. Headline inflation rates fell in March in all 14 economies that we cover, the first synchronised drop in more than a decade. This partly reflects base effects... 26th April 2023 · 15 mins read
US Fed Watch Rates close to peak The Fed looks set to deliver a final 25bp rate hike at the FOMC meeting next week, taking the fed funds target range to a peak of 5.00%-5.25%. Although the accompanying statement may leave open the... 26th April 2023 · 8 mins read
Middle East & North Africa Chart Pack IMF deals in choppy waters Balance of payments strains have prompted Egypt, Morocco and Tunisia to turn to the IMF over the past six months or so, but agreements in Egypt and Tunisia are faltering. The IMF postponed its first... 26th April 2023 · 12 mins read
Latin America Data Response Brazil IPCA-15 (April 2023) The drop in Brazilian inflation to a 30-month low of 4.2% y/y in the middle of April was mainly a result of a sharp decline in food inflation, which is at its lowest rate since the start of the... 26th April 2023 · 2 mins read
RBA Watch RBA to deliver final 25bp rate hike next week While inflation is moderating a touch faster than the RBA had anticipated, the continued acceleration in services inflation will probably prompt the RBA to deliver a final 25bp rate hike next week... 26th April 2023 · 8 mins read
