Europe Economics Update Euro-zone Monetary Indicators Monitor (Sep.) Today’s broad money data revealed that there are still few signs that the ECB’s provision of unlimited liquidity to banks is boosting broad money and credit growth. 25th September 2009 · 1 min read
UK Economics Update Monetary Indicators Monitor (Sep.) There are still only tentative signs that quantitative easing (QE) is starting to boost the broad money supply. Money growth is certainly still below the rates consistent with a decent economic... 18th September 2009 · 1 min read
Europe Economics Update Irish bad bank unlikely to get credit flowing again The release of further details of the Irish Government’s “bad bank” plans does little to change our view that bank lending will continue to contract for a sustained period. Ultimately, further... 17th September 2009 · 1 min read
UK Economics Focus Could the UK have a creditless recovery? With a significant pick-up in bank lending still looking unlikely, hopes are pinned on the economy achieving a so-called “creditless recovery.” This type of upturn has been seen before, both in the UK... 14th September 2009 · 1 min read
UK Economics Focus Could the UK have a creditless recovery? With a significant pick-up in bank lending still looking unlikely, hopes are pinned on the economy achieving a so-called “creditless recovery.” This type of upturn has been seen before, both in the UK... 14th September 2009 · 1 min read
UK Economics Update Rising bad debts on “normal” loans another blow for banks Today’s figures on banks’ debt write-offs are a reminder that, whilst the biggest losses on so-called “toxic” assets may be behind us, the recession-related losses on conventional loans to firms and... 1st September 2009 · 1 min read
UK Economics Update Rising bad debts on “normal” loans another blow for banks Today’s figures on banks’ debt write-offs are a reminder that, whilst the biggest losses on so-called “toxic” assets may be behind us, the recession-related losses on conventional loans to firms and... 1st September 2009 · 1 min read
Europe Economics Update Euro-zone Monetary Indicators Monitor (Aug.) The latest euro-zone money figures provided little sign that the ECB’s recent continued provision of liquidity to banks has prompted them to increase their lending to the wider economy. 27th August 2009 · 1 min read
UK Economics Focus Bank lending still set to fall well short Conditions in the banking system have clearly been improving. However, we doubt that this transforms the lending outlook. Indeed, we continue to think that over the foreseeable future, bank lending... 26th August 2009 · 1 min read
UK Economics Focus Bank lending still set to fall well short Conditions in the banking system have clearly been improving. However, we doubt that this transforms the lending outlook. Indeed, we continue to think that over the foreseeable future, bank lending... 26th August 2009 · 1 min read
UK Economics Update Monetary Indicators Monitor (Aug.) Given how much money the Monetary Policy Committee (MPC) has now pumped into the economy through its quantitative easing (QE) policy, the Committee’s preferred measure of broad money growth remains... 20th August 2009 · 1 min read
UK Economics Update How fast does broad money need to grow? The Monetary Policy Committee (MPC) has recently put great store in the broad money figures as a measure of the effectiveness of its quantitative easing (QE) policy. Its preferred measure of money is... 10th August 2009 · 1 min read
UK Economics Update Banks’ results of little reassurance on the lending front Markets have reacted positively to the interim results released by the major banks in the past few days. Indeed, the banking sector appears to be getting back on its feet. But there was little in the... 5th August 2009 · 1 min read
