US Rapid Response US Fed, Treasury & FDIC take emergency action to stem bank runs 12th March 2023 · 2 mins read
US Economics Update SVB collapse a reminder of financial risks The circumstances of the Silicon Valley Bank (SVB) collapse are unique enough that it probably won’t trigger a widespread financial contagion. Nevertheless, it is a timely reminder that when the Fed... 10th March 2023 · 3 mins read
Europe Economics Weekly Recession or not, economy is set to suffer The second estimate of euro-zone GDP confirmed that the economy stalled in Q4 last year and also revealed that domestic demand fell off a cliff. Data published so far this year point to continued... 10th March 2023 · 7 mins read
China Data Response Bank Lending & Broad Credit (Feb.) Bank loan growth jumped to a 14-month high in February. And broad credit growth accelerated for the first time since September. This rebound should continue in the near-term thanks to a reopening... 10th March 2023 · 2 mins read
Event Euro-zone Drop-In: ECB March meeting preview 1678788000 With another 50bps rate hike at the European Central Bank’s March meeting looking like a done deal, all eyes will be on how policymakers signal the path ahead for monetary tightening.
Emerging Markets Financial Risk Monitor EM financial risks have eased but not evaporated Financial risks across the emerging world have eased since the start of the year but, with the Fed’s Jerome Powell all but confirming a higher peak for US rates, there is still scope for EMs with weak... 8th March 2023 · 6 mins read
Emerging Markets Economics Update EM slowdowns and NPLs: lessons from the past Non-performing loan (NPL) ratios have risen by as much as 4-5%-pts during non-banking crisis downturns in EMs in the past. This time around, there are reasons to think that the increase will be... 6th March 2023 · 5 mins read
Europe Economics Weekly QT launched, France flatlining? The latest data suggest that France’s economy is performing a little better than Germany’s and may even avoid recession, at least in the first half of this year. Meanwhile, we expect to learn next... 3rd March 2023 · 8 mins read
Europe Economics Update ECB account consistent with high-for-longer The account of the ECB’s last meeting is consistent with our view that the ECB will raise its deposit rate to 3.0% a fortnight today and continue hiking beyond that. In light of the data released... 2nd March 2023 · 3 mins read
UK Data Response Money & Credit (Jan.) While January’s money and credit figures suggest that higher interest rates are continuing to act as a drag on the housing market, they appear to be having less influence in other areas of the economy... 1st March 2023 · 3 mins read
Europe Economics Update Money and lending data point to recession The effects of tighter monetary policy are clear in the money and credit data. Households and firms have continued to lock their money up in longer-term deposits which are less likely to be spent, and... 27th February 2023 · 2 mins read
