Japan Chart Pack BoJ at the barricades While inflation is still far lower in Japan than in most places, rapid increases in the prices of some everyday purchases have made it a political focus. A Nikkei poll following the Bank of Japan’s... 21st June 2022 · 10 mins read
Emerging Europe Economics Update CEE inflation broadening out Central and Eastern European economies are experiencing their worst bout of inflation since the late-1990s as surging food and energy prices have added to strong core price pressures across a broad... 20th June 2022 · 4 mins read
Canada Economics Weekly New CPI weights to push inflation above 8% The new CPI weights outlined this week mean that inflation will peak at more than 8% in June, which is higher than we previously expected. That further raises the chance of the Bank of Canada... 17th June 2022 · 6 mins read
Nordic & Swiss Economics Weekly More on the SNB; Norges Bank to hike by 50bp Even after the strong gains in the franc against the euro and US dollar after yesterday’s SNB rate hike, the Swiss real effective exchange rate is still about 5% below its level in early 2020 when the... 17th June 2022 · 4 mins read
UK Economics Weekly Why didn’t the BoE go further and what next? In some ways, given its concerns about the weakening in the real economy, the Bank of England's decision not to follow the Fed and raise rates by more than 25 basis points makes sense. But with more... 17th June 2022 · 8 mins read
Europe Data Response Euro-zone Final HICP (May) Final inflation data for May confirm that the headline and core rates both rose to record highs. The recent increases in gas and agricultural commodity prices will keep the headline rate higher than... 17th June 2022 · 2 mins read
Australia & New Zealand Economics Weekly Inflationary pressures keep building The big minimum wage hike announced by the fair work commission this week will lead to higher wage growth over the coming year. Given the tightness in the labour market and rising cost pressures... 17th June 2022 · 3 mins read
Emerging Markets Economics Update EMs, food security and inflation Shortages of food supplies and surging prices have led some EMs to impose export restrictions on key agricultural products, a trend that threatens to become more prevalent and serve to keep prices... 16th June 2022 · 3 mins read
Latin America Economics Update Inflation & fiscal risks pushing Copom to tighten further While the Brazilian central bank’s tightening cycle is drawing to a close, the statement accompanying yesterday’s 50bp increase in the Selic rate (to 13.25%) left the door open to additional hikes... 16th June 2022 · 3 mins read
Global Economics Chart Pack Weak Q2 may be a sign of things to come Global economic activity might have contracted slightly in Q2, which would be the weakest outcome in recent history aside from the height of the pandemic and the Global Financial Crisis. Part of the... 15th June 2022 · 13 mins read
Africa Data Response SA Activity Data (Apr.) & Nigeria Inflation (May) South Africa’s activity data for April showed that flooding in a key province and renewed power cuts dealt a big blow to industrial sectors, while retail sales held up well. GDP probably still... 15th June 2022 · 3 mins read
Middle East & North Africa Data Response Saudi Arabia Consumer Prices (May) Saudi inflation edged down to 2.2% y/y in May as food and transport inflation slowed last month, and, while we think that the headline rate will drift higher over the coming months, it is unlikely to... 15th June 2022 · 2 mins read
Emerging Europe Economics Update Israel’s tight labour market to push up wages soon Israel’s labour market has tightened significantly in recent months and while there is so far little sign of a burst of wage pressure coming through, this is likely to be in the pipeline and feed... 14th June 2022 · 4 mins read
Global Economics Focus The implications of higher food prices Surging food prices are a cloud over the global economic outlook. While food inflation should fall sharply next year, it will remain high in the near term, eating further into households’ spending... 14th June 2022 · 18 mins read
India Data Response Wholesale Prices (May) Indian wholesale price inflation climbed to another historic high in May. The rise in food prices in particular suggests that some of the upside risks to the inflation picture we have been flagging... 14th June 2022 · 2 mins read
Nordic & Swiss Data Response Sweden Consumer Prices (May) The stronger-than-expected increase in Swedish inflation in May lends support to our forecast that the Riksbank will step up the pace of tightening. A 50bp hike in the policy rate now looks... 14th June 2022 · 2 mins read
