In one line: Lifted by strong momentum in Southern Europe.
Claus Vistesen (Chief Eurozone Economist)Eurozone
In one line: Better, but likely not enough to prevent another decline in GDP in Q1.
Claus Vistesen (Chief Eurozone Economist)Global
In one line: Better, but likely not enough to prevent another decline in GDP in Q1.
Claus Vistesen (Chief Eurozone Economist)Eurozone
In one line: The SNB beats the ECB to the punch on rate cuts.
Melanie Debono (Senior Eurozone Economist)Global
In one line: The SNB beats the ECB to the punch on rate cuts.
Melanie Debono (Senior Eurozone Economist)Eurozone
- In one line: Anticipated hike to electricity tariffs spooks the CBC into a surprise hike.
Moorthy Krshnan (Senior Asia Economist)Global
- In one line: The Board exercises caution, as forward guidance is limited to one meeting.
Andrés Abadía (Chief LatAm Economist)Latin America
- In one line: Anticipated hike to electricity tariffs spooks the CBC into a surprise hike.
Moorthy Krshnan (Senior Asia Economist)Emerging Asia
Modest improvement in still-dull Japanese manufacturing activity reading
Duncan WrigleyChina+
- In one line: A poor start to the year, but conditions will improve soon.
Andrés Abadía (Chief LatAm Economist)Latin America
Japan's robust services sector contrasts with drab manufacturing activity; Exports still strong, despite headline dip
Duncan WrigleyChina+
India's manufacturing PMI jumps to a 17-year high, but so what?
The rebuild of inflationary pressures in services is becoming harder to ignore
Miguel Chanco (Chief EM Asia Economist)Emerging Asia
- In one line: The Board exercises caution, as forward guidance is limited to one meeting.
Andrés Abadía (Chief LatAm Economist)Global
- Both federal and state/local government are set to make much smaller contributions to growth this year.
- S&L government housing construction will slow, and the surge in payrolls will moderate, likely quite soon.
- February’s jump in existing homes sales will not be sustained; mortgage demand remains very weak.
Ian Shepherdson (Chief Economist, Chairman and Founder)US
- Brazil’s COPOM voted unanimously to cut the Selic rate by 50bp, as expected, but has exercised caution.
- The forward guidance has been limited to one meeting ahead, due to increased uncertainty.
- A further 50bp rate cut in May is likely, with subsequent decisions contingent on the data.
Andrés Abadía (Chief LatAm Economist)Latin America
- In an unexpected move, the Taiwanese central bank raised its discount rate to 2.000% yesterday…
- …Its main worry appears to be the impending rise in electricity tariffs, likely to come in April.
- The improving economic outlook has given the CBC space, but this hike is likely 'one -and- done'.
Moorthy Krshnan (Senior Asia Economist)Emerging Asia
- Japan’s March flash manufacturing PMI points to still-tepid activity, though improving modestly.
- The service sector continues to shine brightly, albeit based narrowly on tourism and finance.
- A jump in service-sector input costs is a worrying sign of persistently elevated inflation.
Duncan WrigleyChina+
- The SNB cut interest rates, beating other major DM central banks to the punch on easing policy.
- More easing is likely over the coming year; we look for 75bp of further cuts by December.
- The risks are to fewer cuts; the SNB sees inflation in line with its price-stability mandate out to 2026.
Melanie Debono (Senior Eurozone Economist)Eurozone