Japan Economics Weekly Fossil fuel reliance, Japanese banks in Russia The recent spike in energy prices has highlighted just how reliant Japan still is on imported energy. Renewable energy production will need to be ramped up significantly to shield the economy from... 25th February 2022 · 6 mins read
Japan Chart Pack Post-booster bounce in the spring Services spending jumped to only 3% below its pre-virus level in Q4 2021 despite having begun the quarter on a weak footing with curfews still in place for bars and restaurants across many regions in... 21st February 2022 · 10 mins read
US Chart Pack Better news on inflation is coming The further rise in CPI inflation to 7.5% in January and hawkish comments from Fed officials have seen markets rush to price in a series of aggressive interest rate hikes this year. But recent weeks... 17th February 2022 · 9 mins read
Emerging Europe Economics Update A closer look at Ukraine’s macro vulnerabilities Ukraine’s economy as a whole is in a better position to weather significant capital flight and sharp falls in the hryvnia than at any point in the past decade. But even so, there are key pockets of... 16th February 2022 · 4 mins read
Middle East & North Africa Economics Update Saudi mortgage boom brings new risks Mortgage lending in Saudi Arabia has ramped up sharply in recent years as the government has tried to push up homeownership among Saudi nationals. This has not provided much of a boost to property... 15th February 2022 · 5 mins read
Global Economics Update What to expect from QT Quantitative tightening (QT), namely the shrinking of central banks’ balance sheets, is likely to play an active role alongside rising interest rates in the tightening of monetary policy over the... 15th February 2022 · 7 mins read
Africa Economics Weekly SONA takeaways, Nigeria FX policy, Ghana to the IMF? The economy was a key theme in Thursday’s State of the Nation Address (SONA) in South Africa as the president vowed to press ahead with his reform drive but gave some ground to those in his party... 11th February 2022 · 7 mins read
China Data Response Bank Lending & Broad Credit (Jan.) Broad credit growth accelerated for the third consecutive month in January as policy support continued to feed through. With more easing on the horizon we expect this trend to continue for a while... 10th February 2022 · 2 mins read
Emerging Markets Economics Update Tightening financial conditions a growing headwind Financial conditions have continued to tighten in Latin America and Emerging Europe and will likely remain restrictive throughout the year, weighing on activity in both regions. Meanwhile, although... 4th February 2022 · 2 mins read
Australia & New Zealand Economics Weekly RBA hiking cycle to start as RBNZ’s ends The RBA is coming around to the view that rates will need to be hiked this year. And our forecast that inflation will continue to surprise the Bank in the months ahead is why we think it will start... 4th February 2022 · 4 mins read
India Economics Weekly E-rupee will have to battle consumer indifference One of the more eye-catching elements of the Union Budget was the pledge that the RBI would introduce a Central Bank Digital Currency (CBDC) in the upcoming fiscal year. That would make the Reserve... 4th February 2022 · 4 mins read
Frontier Markets Wrap Sovereign debt risks becoming more acute Sovereign dollar bond spreads have widened significantly in several Frontiers over the past couple of months, driven largely by country-specific factors. There are reasons to be hopeful that outright... 3rd February 2022 · 3 mins read
UK Commercial Property Data Response Lending to commercial property (Dec.) A marked jump in lending to standing property resulted in total net lending reaching its highest level in just over 18 months in December. Although this is encouraging, several challenges remain... 1st February 2022 · 2 mins read
Europe Data Response ECB Bank Lending Survey (Q4 2021) The Q4 ECB Bank Lending Survey suggests that banks are contributing positively to the region’s economic recovery. It also suggests that, while house prices are rising rapidly, risks to financial... 1st February 2022 · 2 mins read
UK Data Response Money & Credit (Dec.) The decent rise in consumer credit in December suggests that, although consumers exercised a touch more caution as Omicron COVID-19 cases surged at the end of last year, the economy didn’t collapse... 1st February 2022 · 3 mins read
Latin America Economics Weekly Unpacking Argentina’s IMF agreement The Argentine government’s agreement with the IMF for a new $44.5bn deal is a positive step to improve macroeconomic stability. But, at first glance, the deal seems to be based on rosy economic... 28th January 2022 · 6 mins read
