
UK policy mix to be dominated by fiscal policies
Jul 23, 2015 01:06 am UTC| Commentary
In terms of fiscal policy, we have aligned our forecast with the governments plans but only for the first two years (structural consolidation of 0.9% and 1.3% of GDP in 2015-16 and 2016-17, respectively) as we believe that...

Jul 23, 2015 00:28 am UTC| Commentary Economy
While the worst-case outcome may have been averted in the short run, macroeconomic conditions have deteriorated significantly during five months of unsuccessful talks. With banks having been closed for three weeks, they...

Spanish economic growth beating expectations
Jul 22, 2015 23:49 pm UTC| Commentary
Economic activity continues to beat most market expectations. The Spanish economy grew by 0.9% q/q in Q1 15. As in other EA economies, private consumption was the main driver, even if private sector investment and public...

Spain: Improving financial conditions and housing market
Jul 22, 2015 23:34 pm UTC| Commentary
Spains improving financing and credit conditions will remain supportive of growth. SME funding and new credit to households continue to grow. Gross household loans rose 3.2% in April and SME loans (up to EUR1mn) grew above...

RBNZ cut the OCR by 25bp to 3.00%
Jul 22, 2015 23:19 pm UTC| Commentary Central Banks
The RBNZs OCR Review this morning cut the OCR by 25bp to 3.00%, and said more easing was likely. Westpac Research notes: The crucial guidance paragraph read: A reduction in the OCR is warranted by the softening in...

Preliminary signs that the Italian labour reform is already at play
Jul 22, 2015 23:03 pm UTC| Commentary
The latest encouraging set of labour market data shows the reform approved by the government at the beginning of March has already started to produce positive effects.The reform has already helped reduce labour market...

French business confidence gains bode well for a rebalancing of the recovery
Jul 22, 2015 22:39 pm UTC| Commentary
Despite some divergence in June, French business confidence indicators continued to improve, with INSEE, Bank of France and PMIs climbing 2.3pts, 2.4pts and 1pt, respectively during Q2 15. This upward trend was supported...