Completing the banking union
Propositions for the third pillar Eurozone confidence up in October The first phase of the EMU completion process was launched in July, and the European Commission has followed up by presenting a...
View ArticleFrance, the improvement continues
In France, the improvement in business confidence continues The number of job-seekers has posted a first significant fall The overall picture from the latest economic indicators in France is...
View ArticleFriday Afternoon Fever
US job statistics published on Friday afternoon were strong … …which should encourage the Fed to take action US employment figures were released on Friday afternoon. Altogether, 271,000 jobs were...
View ArticleFrance-Germany: is the gap narrowing?
Judging by initial estimates of national accounts, France's economy grew slightly faster than Germany's in the third quarter of 2014, i.e. by 1.4% annualised versus 1.3%. Detailed German figures are...
View ArticleGermany: no acceleration
Rebound continued in France... …but the pace of growth slowed in Germany While the rebound in growth continued in the third quarter in France (0.3% after 0% in Q2), the same cannot be said of Germany....
View ArticleHawkish easing
ECB easing fell short of markets’ expectations… …but should support the ongoing recovery This is a paradox: While the ECB unveiled new easing measures this Thursday, financial and monetary conditions...
View ArticleA rate hike, what else?
The Fed is about to bring to an end a 7-year period of ZIRP The incoming policy normalisation will likely be very gradual The United States is about to experience a rare event: on 16 December the...
View ArticleFluctuat nec mergitur
The German and French economies are withstanding headwinds quite well Their GDP growth should be up around 1.5% in 2016. The French business climate was expected to deteriorate following the 13...
View ArticleA cement story
The Chinese cement industry has fallen into recession With major consequences for world commodity prices When the first industrial revolution began in the 1760-80s, the United Kingdom had a population...
View ArticleLife On March?
Money policy will be reviewed And possibly reconsidered at the next meeting in March Unsurprisingly, the European Central Bank (ECB) held its monetary policy steady in January. Mario Draghi nonetheless...
View ArticleResilient households
US GDP growth slowed in Q4 Business investment and net export weigh on The Fed sends a dovish signal US GDP growth markedly slowed in the final quarter of 2015: +0.7% versus 2% in Q3 (quarterly...
View ArticleHesitant Oil Prices
■ Hesitant oil prices ■ Unnerved equity markets ■ Interest rates plunge, dragging down the dollar Jittery financial markets did not find any relief this week. Oil prices suddenly dropped after...
View ArticleDisproportionate sentence
Eurozone growth in line with expectations After Spain and Italy, Portugal is easing the fiscal pressure Financial turbulence has spread to the Eurozone and rekindled some pressure pushing up sovereign...
View ArticleWill it be enough?
Russia and Saudi Arabia strike a deal Financial markets calm down The focus shifts back to the ECB and Fed The downward revision by the OECD of its economic forecasts is a sobering reminder of how...
View ArticleA chillier feeling
World trade and GDP growth are running out of steam The IMF and OECD are calling for a joint effort This week the IMF has joined the OECD in calling for a joint effort to boost growth, as the...
View ArticleStructural policy: necessary yet difficult
Synergy with monetary and fiscal policies Positive impact on potential growth A slower pace of reforms lately The world economy is cooling so the heat is on about what should be done. The closing...
View ArticleA mixed picture keeps central banks in focus
Looking back at the first quarter from an economic perspective, the picture is very mixed. In China, slowdown concerns continue to dominate. In Japan, data have been lacklustre and there is a risk of a...
View ArticleBudless Spring
Rebound in world economic growth still expected in 2017 But constraints on potential growth and rising risks in emerging countries The IMF published this week updated economic forecasts. 2016 world...
View ArticleExplanations
Mario Draghi’s refutes criticism from Germany “Monetary policy has been the only policy in the last four years to support growth” Just six weeks after the ECB announced a series of large-scale...
View ArticleFrench growth beats expectations
Global Helicopter money. This tool to fight deflation corresponds to a money-financed fiscal stimulus. United States Déjà vu? GDP growth was disappointing in Q1 2016, but this was no surprise. Unlike...
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