Nordic & Swiss Economics Update Weaker euro-zone to stem Swiss recovery Switzerland’s low levels of public and private sector debt suggest that it will continue to out-grow the euro-zone over the next couple of years. But it will suffer from strong trade links with the... 19th May 2010 · 1 min read
Japan Data Response Economy Watchers Survey & Bank Lending (Apr.) The surge in the main balances of Japan’s Economy Watchers Survey (EWS) in April is further evidence of a strong and increasingly broad-based recovery, consistent with our well-above consensus GDP... 13th May 2010 · 1 min read
Japan Economics Update What's really behind the weakness in bank lending? Claims that the current weakness of bank lending is due to the poaching of deposits by Japan Post make no sense. The real reason is the lack of demand for this type of credit. 11th May 2010 · 1 min read
UK Economics Update Monetary Indicators Monitor (Apr.) There are finally tentative signs that the Bank of England’s programme of quantitative easing (QE) is boosting the broad money supply. However, bank lending, particularly to businesses, remains weak. 4th May 2010 · 1 min read
Europe Economics Update Is Greece the next Lehmans? The crisis in Greece could pose as big a risk to the global economy and financial markets as the collapse of Lehman Brothers did in September 2008. In some respects the wider fall-out might even be... 28th April 2010 · 1 min read
Europe Economics Update Could a banking crisis add to Greek woes? Greek bond yields have continued to surge as doubts remain over whether the euro-zone will actually be able to provide financial support to Greece. But a growing worry is that the ongoing crisis... 15th April 2010 · 1 min read
China Economics Update How strong are speculative inflows? Speculative inflows into China’s economy were weak in the first quarter, but they seem to have picked up in the last few weeks as expectations have strengthened that the renminbi’s appreciation... 12th April 2010 · 1 min read
Japan Data Response Bank Lending & Broad Money (Mar.) Just as the surge in bank lending in late 2008 was hardly evidence of strength in Japan's economy, the recent year-on-year declines may not be a sign of renewed weakness. What's more, in contrast to... 12th April 2010 · 1 min read
Emerging Europe Economics Update Who’s been hit hardest by the credit squeeze? On the whole, firms, rather than households, have borne the brunt of the credit squeeze in Emerging Europe. In fact, lending to consumers has already started to pick up in those countries with... 9th April 2010 · 1 min read
UK Data Response CIPS/Markit Manufacturing (Mar.) & Credit Conditions Survey (Q1) The latest manufacturing data suggested that the industrial recovery is progressing nicely. But the Bank of England’s credit conditions survey did little to alter our view that a prolonged period of... 1st April 2010 · 1 min read
Europe Economics Update Ireland’s problems still far from over Yesterday’s announcement of a raft of measures aimed to lift the troubled Irish banking sector from its knees, was an important step towards ending the economic slump. But the economy faces other... 31st March 2010 · 1 min read
UK Economics Update Monetary Indicators Monitor (Mar.) More than a year after the Bank of England began its quantitative easing programme, broad money and bank lending are still struggling to rise. The latest worrying development is a renewed drop in net... 29th March 2010 · 1 min read
UK Data Response Mortgage Lending (Feb.) Although, perhaps, still artificially weak following the poor weather and the end of the previous stamp duty holiday, today’s mortgage lending data do not inspire confidence that last year’s housing... 29th March 2010 · 1 min read
