The Swedish krona was among the weakest G10 currencies on Wednesday following the Riksbank meeting. Although the central bank kept the benchmark rate unchanged as expected, the post-meeting communication was on the dovish side.…
In this Strategy Outlook we examine why, contrary to popular perception, the odds of a global recession over the next 12 months are rising not falling.
The latest batch of economic data out of the UK suggests that economic conditions have recently stabilized. The flash Manufacturing PMI rose by a stronger-than-anticipated 2.4 points to a 20-month high of 49.9 in March –…
Does the recent surprise rate cut by the Swiss National Bank augur other dovish surprises among major central banks in Europe?
The 2.1-point increase in Germany’s Ifo Business Climate index in March brought it to a 9-month high of 87.8 and beat expectations of a more muted rise to 86.0. Both current economic conditions (+1.2 to 88.1) as well as…
The Swiss National Bank’s 25 basis point rate cut on Thursday came as a dovish surprise to market participants anticipating it would hold the policy rate unchanged. The rate cut, which brought the policy rate down to 1.5%…
The flash PMI estimates for March produced a mixed update on manufacturing and service sector activity in the US and Eurozone. In the US, the results suggest that growth is more resilient in the manufacturing…
Despite a couple of rate cuts in H2 2024, borrowing costs will remain elevated in real terms amid lower inflation in the US and Europe. This and tightening fiscal policy will hinder domestic demand in advanced economies. Domestic…
Citigroup’s economic surprise index for the Euro Area has been on a steady ascent since mid-2023. Its continued increase after breaking into positive territory at the start of February indicates that the region’s…