China Rapid Response Bank Lending & Broad Credit (Mar.) Bank loan growth jumped to a 17-month high in March. And broad credit growth rose to its highest since December. Both were stronger than most anticipated. We expect broad credit growth to accelerate a... 11th April 2023 · 3 mins read
US Economics Weekly MMFs: where liquidity goes to die The surge in interest rates over the past 12 months has encouraged an outflow of deposits from the banking system into money market mutual funds but, unfortunately, those funds are not recycling any... 7th April 2023 · 10 mins read
Nordic & Swiss Economics Weekly Sweden’s commercial real estate problem Sweden's banking system and economy are more exposed to a downturn in the commercial real estate market than most other European countries. This is one of the reasons why we expect Sweden to... 6th April 2023 · 6 mins read
Europe Commercial Property Update The risks to banking from commercial property Real estate exposures have not been central to financial developments in Europe over recent weeks, but, as property prices correct after a decade of steady expansion, some strains are likely to emerge... 6th April 2023 · 4 mins read
Global Central Bank Watch Gauging the economic effects of banking turmoil Central banks are now in a more difficult position, weighing persistently high inflation on the one hand against strains in the banking sector on the other. For now, they are separating the two by... 5th April 2023 · 15 mins read
Emerging Markets Economic Outlook First to hike, first to cut Aggregate EM GDP growth will be much stronger this year than last, but that’s almost entirely a result of China’s reopening rebound. Growth in most other EMs will be weaker and will generally... 4th April 2023 · 27 mins read
US Commercial Property Focus Where are the risks from US commercial real estate greatest? While we expect a more-than 20% peak-to-trough price correction for US commercial real estate, offices face a much tougher outlook, with large falls in net operating incomes compounding the broader re... 4th April 2023 · 14 mins read
US Economics Update Monetary Indicators Monitor Narrow money growth has turned negative as savers have shifted out of bank deposits and into money market funds and bonds, which now offer significantly higher returns. Bank loan growth remains robust... 4th April 2023 · 3 mins read
China Chart Pack Uneven consumer recovery slowing down Consumer spending jumped during the first two months of the year as virus disruptions faded. The March retail sales data won’t be published for another couple of weeks. But the data we have so far... 3rd April 2023 · 11 mins read
UK Economics Weekly Banking strains will amplify tightening in credit conditions Even before the turmoil in the banking sector, UK banks were planning on sharply reducing the amount of credit available to households. The recent strains in the banking sector will amplify the... 31st March 2023 · 5 mins read
Europe Economics Weekly Calm after the storm, but inflation still a headwind With the banking sector panic subsiding, attention is returning to the inflation outlook. And as core euro-zone inflation edged up to a new all-time high in March we think policymakers will remain in... 31st March 2023 · 7 mins read
Nordic & Swiss Economics Weekly Lessons in liquidity from Credit Suisse Despite meeting its regulatory requirements, it took only a matter of days of stressed conditions for Credit Suisse to be forced into a takeover. A closer look at Credit Suisse's liquidity position... 31st March 2023 · 6 mins read
Global Economic Outlook From cost of living crisis to banking crisis? The strongest headwind for the global economy has shifted from an energy crisis and the related squeeze on real incomes to a potential banking crisis and associated drag on credit. Since banks are... 30th March 2023 · 46 mins read
Event Drop-In: How has bank turmoil affected the financial markets outlook? 1680616800 With the dust settling on the recent turmoil in US and European banks, economists from across our financial markets coverage assessed the damage to the outlook for bonds, equities and FX.
UK Economics Update No flight in bank deposits, but bank lending growth easing While households and businesses took further advantage of rising interest rates in February by moving money into bank accounts with higher rates, they are not withdrawing money from the overall... 30th March 2023 · 3 mins read
Asia Chart Pack Asian banks in decent shape, but credit risks lurk The turmoil in the global banking system over the past month has had a limited impact on Asia – currencies have held up well and outflows of capital have been small. And in general, banking sectors in... 30th March 2023 · 16 mins read
