Africa Chart Pack The monetary policy tide turns African central banks have turned up their hawkish noises over the past month. Policymakers in Nigeria and Kenya delivered their first interest rate hikes following pandemic-era cuts. In South Africa... 31st May 2022 · 12 mins read
Japan Data Response Labour Market, Industrial Prod. & Retail Sales (Apr. 22) While employment recovered sharply in April and should soon reclaim its pre-pandemic level, the weakness in both goods production and goods consumption last month suggests that the economy’s Q2... 31st May 2022 · 3 mins read
Asia Chart Pack Pakistan edges closer to IMF deal Talks between Pakistan and the IMF ended last week without agreement, but the subsequent decision by the government to cut back fuel subsidies has cleared one of the major hurdles towards a deal being... 30th May 2022 · 15 mins read
China Chart Pack Policymakers trying to revive property sales China’s beleaguered property developers may soon see some respite both from their inability to borrow at reasonable rates and from sliding property sales. Last week, PBOC Governor said that the... 30th May 2022 · 11 mins read
Canada Chart Pack Core inflation still rising With core CPI inflation still rising, the Bank of Canada has no choice but to continue hiking its policy rate “forcefully’ back toward neutral. All three of the core measures tracked by the Bank are... 26th May 2022 · 9 mins read
US Employment Report Preview Payroll growth slowing We expect that non-farm payroll growth slowed in May, albeit to a still strong 300,000 . 26th May 2022 · 3 mins read
Japan Chart Pack Tweak to Yield Curve Control still on the table The Bank of Japan’s attempt to relieve pressure on the Yield Curve Control framework by offering to buy an unlimited amount of 10-year Japanese government bonds (JGBs) at yields of 0.25% for as long... 23rd May 2022 · 10 mins read
Emerging Europe Economics Focus War in Ukraine to exacerbate macro imbalances in CEE The war in Ukraine will exacerbate two key macro risks in Central and Eastern Europe this year: wage-price spirals (particularly in Poland) and widening current account deficits (particularly in... 19th May 2022 · 17 mins read
Australia & New Zealand Data Response Australia Labour Market (Apr. 2022) While the unemployment rate held steady at a 48-year low in April, the slowdown in employment growth and the sluggishness of wage growth will probably convince the RBA to hike rates by 25bp next month... 19th May 2022 · 2 mins read
US Chart Pack Economy powering ahead The strength of the hard activity data for April refutes the recent message from financial markets that the economy is at risk of imminent recession. The solid gain in control group retail sales... 18th May 2022 · 8 mins read
Australia & New Zealand Data Response Australia Wage Price Index (Q1) The unchanged pace of quarterly wage growth in Q1 should ensure the RBA won’t accelerate its hiking cycle just yet. But with the labour market still tightening and inflation still rising, we think... 18th May 2022 · 3 mins read
Europe Data Response Euro-zone GDP & Employment (Q1) The euro-zone economy grew slightly faster in Q1 than previously estimated and there was a solid increase in employment at the start of the year too. While we expect the labour market to remain a... 17th May 2022 · 2 mins read
Australia & New Zealand Chart Pack Consumption to surge even as real incomes fall We now expect Australia’s inflation to rise by more than 6% this year. Even allowing for an acceleration in earnings growth and a further solid rise in employment as immigration resumes, that will... 17th May 2022 · 11 mins read
UK Economics Labour Market (Mar./Apr.) Even though the economy contracted in March and may be on the brink of a recession, jobs growth strengthened, the unemployment rate fell to a 47-year low of 3.7% and wage growth accelerated. This... 17th May 2022 · 3 mins read
Nordic & Swiss Chart Pack Rising CPI expectations occupying minds at Riksbank Just as policymakers at the ECB are becoming more concerned about inflation expectations, the rise in expectations in Sweden is giving the Riksbank plenty to fret about too. The Bank’s preferred... 13th May 2022 · 5 mins read
Global Economics Chart Pack High inflation is hurting real spending Recent data have shown the firmest evidence yet that high inflation is damaging real consumer spending in advanced economies. Real retail sales fell in the US, UK, and euro-zone in March, while... 13th May 2022 · 14 mins read
