The fallout from the Russia-Ukraine conflict and a brief but sharp hit from the Omicron outbreak have prompted us to cut our 2022 mainland GDP growth...
Eurozone | Markets are at the mercy of war
Posted by Angel Talavera on Mar 18, 2022
The war between Russia and Ukraine continues to dominate headlines and financial markets. The daily news flow coming out of the region is causing...
MENA | Growth prospects remain robust as GCC embraces rate hikes
Posted by Maya Senussi on Mar 17, 2022
The GCC countries have entered a period of higher interest rates - their US$ currency pegs mean regional central banks mirror US Fed hikes. Our...
Europe | Russia's invasion of Ukraine is sending tremors through CEE
Posted by Mateusz Urban on Mar 15, 2022
Russia's invasion of Ukraine is being felt throughout the global economy, but few places are as exposed to its impact as the Central and Eastern...
Eurozone | There are several dovish caveats to ECB's faster QE tapering
Posted by Oliver Rakau on Mar 11, 2022
Despite the economic headwinds and much increased uncertainty stemming from the Russian invasion of Ukraine the ECB decided to accelerate its QE exit...
Europe | NBP hikes rates amid falling PLN and higher inflation prospects
Posted by Mateusz Urban on Mar 9, 2022
The National Bank of Poland (NBP) hiked its policy rate by 75bps at yesterday's meeting, bringing it to 3.5%. Although a continuation of monetary...
Russia | CBR’s huge rate hike unlikely to restore financial stability
Posted by Tatiana Orlova on Mar 1, 2022
Following Russia’s invasion of Ukraine, the US and EU announced harsh new sanctions, including banning some Russian banks from SWIFT and freezing the...
Turkey | Why the lira scheme may do more harm than good
Posted by Maya Senussi on Feb 2, 2022
Turkey’s unpredictable macro policies could leave the treasury with a sizeable bill stemming from FX-protected lira deposits. The baseline for public...
Norway | Omicron's impact on the 2022 growth outlook appears to be mild
Posted by Rory Fennessy on Jan 28, 2022
We have lowered our mainland 2022 GDP growth forecast by 0.1ppt to 4.2% to reflect the economic impact of the Omicron outbreak at the start of the...
Global | Rising risk of a higher inflation regime
Posted by Adam Slater on Jan 27, 2022
The risk of a shift to a higher inflation regime in advanced economies has risen in the last six months, but markets may be under-pricing the risk in...