Eurozone inflation sees moderate rise over the medium term

Mar 25, 2015 04:40 am UTC| Commentary

The strong decline in oil prices has led Eurozone consumer price inflation into negative territory.Inflation excluding energy prices was at 0.6% y/y most recently and has fallen much less than overall inflation. So while...

Eurozone pick-up in credit cycle likely continued in February

Mar 25, 2015 01:18 am UTC| Commentary

Euro-area credit growth will continue to gain traction, forecastsStandard Chartered Research. M3 money supply likely expanded by 4.2% y/y in February, up from 4.1% prior. Euro-area corporations are still deleveraging;...

Strength of US broad money growth is encouraging

Mar 24, 2015 19:02 pm UTC| Commentary

Total US non-financial business borrowing, including bond issuance as well as loans from banks, increased by around $200bn in the fourth quarter, which was the biggest quarterly gain since 2008.Households are still lagging...

NBH cut policy rate 15bp to 1.95%, more to follow

Mar 24, 2015 18:53 pm UTC| Commentary

The National Bank of Hungary (NBH) cut its policy rate 15bp to 1.95%, marginally less than our forecast and the consensus for a 20bp cut. The NBH Press Release and Governor Matolcskys news conference make it clear that...

Central Bank of Nigeria will raise key interest rate to 15.00% by mid-2015

Mar 24, 2015 18:36 pm UTC| Commentary

The Central Bank of Nigeria (CBN) kept its key interest rate at 13.00% on Tuesday, but will likely tighten monetary policy once Saturdays election is out of the way.The weakness of the naira should gradually stoke...

Recent surge in Japan industrial production unlikely to continue

Mar 24, 2015 18:15 pm UTC| Commentary

According to the flash estimate, the headline manufacturing PMI dropped from 51.6 in February to 50.4 in March, the second straight decline. (Data released on Tuesday.) The result was below expectations.Capital Economics...

Germany’s Ifo index will probably point to a continued recovery

Mar 24, 2015 18:09 pm UTC| Commentary

Capital Economics notes as follows .... We expect the German Ifo index (09.00 GMT) to have risen for the fourth consecutive month in March, adding to signs that the German recovery continued in Q1. Admittedly, there is...