ECB Meeting: 18 questions about Greece

Jul 16, 2015 16:36 pm UTC| Commentary

The most interesting part of todays ECB meeting was the ECBs decision to raise the ELA funding to Greek banks by EUR900bn over one week. The decision follows the Greek parliaments approval of the prior actions, which has...

ECB committed to fully implementing QE

Jul 16, 2015 16:13 pm UTC| Commentary

As expected, the GC decided to leave its monetary policy unchanged and restated its commitment to continue its asset purchase programme at least until September 2016, until we see a sustained adjustment in inflation...

Philly Fed manufacturing index stutters in July

Jul 16, 2015 16:02 pm UTC| Commentary

The Philadelphia Fed manufacturing index fell in 5.7 in July, printing well below our (13.0) and consensus (12.0) expectations for a modest monthly decline. The details of the survey confirm the signal from yesterdays...

ECB: Draghi, a slightly frustrated eurofighter

Jul 16, 2015 15:56 pm UTC| Commentary

It was no surprise, but something must be deeply wrong with the Euro area if an ECB press conference deals almost exclusively with a small member country and not so much with monetary policy. Greek banks will get slightly...

Russia's consumption to have improved slightly

Jul 16, 2015 12:31 pm UTC| Commentary

Russias internal consumption has been picking up after the shock to real income in Q1 15. The internal consumption is driven by slowly improving consumer sentiment and decelerating consumer price inflation. However, June...

Poland's industrial output growth to have accelerated

Jul 16, 2015 12:24 pm UTC| Commentary

Polands industrial output growth in June was mainly driven by growth in manufacturing (5.4% yoy) and mining (7.9% yoy). PMI increased from 52.4p to 54.3p in June testifying to healthy shape of Polish industry. According...

Greek situation remains volatile with implementation risks

Jul 16, 2015 09:58 am UTC| Commentary

So while we expect the ECB to remain in wait-and-see mode while the economy remains largely on track, the Governing Council will remain on the lookout for any risks that may throw the recovery off its forecasted...