ECB stand ready to limit sustained contagion risks
Jul 15, 2015 20:57 pm UTC| Commentary Central Banks
The ECB are more likely to be reactive rather than proactive in response to the Greek crisis. Should a negative scenario materialize in Greece before the meeting, Thursdays focus will be on how the ECB will react to limit...
Mexico Energy Reform: 14% allocation rate suggests a slow process of implementation ahead
Jul 15, 2015 20:40 pm UTC| Commentary
Today, the National Hydrocarbons Commission tendered the first set of blocks of shallow water oil fields. Only 9 firms out of 25 pre-qualified for this bid participated, as many of then decided to withdraw from this first...
Canadian home sales steady in June
Jul 15, 2015 20:27 pm UTC| Commentary
National home sales (seasonally-adjusted) edged down 0.8% m/m in June. The modest decline comes on the heels of four consecutive strong monthly gains, and still leaves national sales up 11% y/y and near their highest...
Fed semi-annual testimony - more upbeat than usual
Jul 15, 2015 17:33 pm UTC| Commentary Economy
In the July semi-annual Monetary Policy Report to Congress, Chair Janet Yellen reiterated the message from her speech on Friday that a first fed funds rate hike this year is likely to be appropriate. In general, the...
Bank of Canada Cuts Rates 25 bps...Canadian Dollar Plunges
Jul 15, 2015 17:03 pm UTC| Commentary Central Banks
The Bank of Canada cut its overnight rate target by 25 basis points to an historically low 0.5 percent today. The loonie immediately plunged to 77.5 cents U.S., down a full cent. The disparity between monetary policy in...
Jul 15, 2015 16:43 pm UTC| Commentary
The ECB faces a complicated challenge next week. It is argued that, the tightening in monetary conditions (clearly unwanted) and the Greek saga leave the ECB with its finger on the trigger. Risks surrounding China...
US industrial production rises in June, as manufacturing remains muted
Jul 15, 2015 16:30 pm UTC| Commentary
Industrial production rose 0.3% m/m in June (previous: -0.2%), printing modestly above our (0.1%) and consensus expectations (0.2%). The stronger-than-expected print for output was driven primarily by utility output (1.5%...
Johannesburg in a time of darkness: Ivan Vladislavić’s new memoir reminds us of the city’s fragility
Economist Chris Richardson on an ‘ugly’ inflation result and the coming budget
Labour can afford to be far more ambitious with its economic policies – voters are on board
Sudan: civil war stretches into a second year with no end in sight