Nordic & Swiss Economics Weekly Taking stock of the policy responses so far Following the raft of policy measures by Nordic central banks this week, the focus next week will be on what the SNB has up its sleeve. We have pencilled in a cut in the policy rate, to -1.00%. Other... 13th March 2020 · 4 mins read
Europe Economics Weekly Market rout as EZ policymakers fail to convince Despite a rebound today, euro-zone financial markets have had a disastrous week as policymakers, including the ECB, failed to convince investors that they will respond adequately to the economic shock... 13th March 2020 · 5 mins read
US Economics Weekly Deteriorating outlook prompts bigger policy response The shift to more aggressive containment measures this week has prompted us to lower our forecast for GDP growth this year to just 0.6%. In response, we expect at least a 50bp rate cut by the Fed next... 13th March 2020 · 7 mins read
UK Economics Weekly A recession and more policy action is coming As it seems increasingly inevitable that a further spread of the coronavirus will have a significant impact on the economy, we are changing our forecasts. We now expect a recession that will involve... 13th March 2020 · 6 mins read
Europe Economics Update Border controls are creeping up the policy agenda While the widespread re-introduction of border controls in Europe does not seem likely at present, it is possible that more governments turn to them as part of a wider policy response against the... 13th March 2020 · 3 mins read
Australia & New Zealand Economics Weekly Lower oil prices are not great for Australians Lower oil prices and government transfer payments may boost household disposable incomes in the coming months. But we think the downturn in consumer confidence and the rising number of cases of the... 13th March 2020 · 5 mins read
Europe Economics Update ECB response highlights EZ policy weakness The measures unveiled by the ECB today were as substantial as expected. But, along with Ms Lagarde’s comments, they underlined that the ECB has little firepower left, that there has been no... 12th March 2020 · 3 mins read
Nordic & Swiss Chart Pack Policy response to COVID-19 ramping up The policy landscape has changed dramatically over recent weeks and is shifting by the hour. Amid a raft of announcements in recent days, Denmark has grasped the nettle by closing schools and... 12th March 2020 · 4 mins read
Bank of Japan Watch Coronavirus outbreak will trigger BoJ policy rate cut The Bank of Japan has limited room to provide support as the coronavirus outbreak nips the recovery from the sales tax hike in the bud. But we expect it to join the global monetary easing cycle by... 12th March 2020 · 8 mins read
Australia & New Zealand Economics Update Australian fiscal stimulus may avert a recession The large fiscal stimulus package unveiled today may be able to prevent a recession. But we still expect the RBA to cut rates to 0.25% and launch quantitative easing over the next few months. 12th March 2020 · 3 mins read
UK Economics Focus Budget 2020 – Austerity is out, spending is in The coordinated fiscal and monetary stimulus announced by the Chancellor and the Bank of England today shows that policymakers are pulling out all the stops to ensure that the coronavirus results in... 11th March 2020 · 10 mins read
US Commercial Property Update What could further policy support mean for real estate? The additional cuts in the Fed Funds rate that we expect to see in the next couple of months, as well as the government’s likely fiscal support, will help shore up investor confidence. Despite a... 11th March 2020 · 3 mins read
UK Economics Update Three bangs from the Bank with the Budget to come The Bank of England’s 50bps emergency interest rate cut, from 0.75% back to the record low of 0.25%, and other measures aimed to support loans to businesses announced this morning is the first salvo... 11th March 2020 · 3 mins read
US Economics Update Coronavirus outbreak to prompt fiscal response It looks increasingly likely that the escalating coronavirus outbreak will be met with a larger fiscal response, which should help to offset some of the economic damage. 10th March 2020 · 4 mins read
Asia Economics Update Malaysia: budget deficit to widen after oil price slump Malaysia’s new finance minister, Tengku Zafrul, faces the unenviable challenge of dealing with a rapidly deteriorating fiscal position at the same time as the economy is slowing sharply. While the... 10th March 2020 · 3 mins read
UK Economics Update UK Budget 2020 Checklist This checklist helps clients keep track of the key economic and public finances forecasts announced during the Chancellor’s Budget speech at 12.30pm on Wednesday 11th March and to provide some instant... 10th March 2020 · 3 mins read
