The CNB lowered the base rate by 25bp, as expected by the markets. The new forecast represents a shift in a stagflationary ...

The central bank seems to have slowed down the depreciation of the lira recently. It has done this not by selling FX to the ...

Underlying inflation trend and inertia: 3.9 percentage points for 2024 and 3.5ppt for 2025. Food prices: 1.6ppt for 2024 and ...

Finance Minister Lan Fo’an noted that the outstanding scale of hidden debt was around RMB14.3tn; with the measures approved ...

Trump would likely try to counter any strength in oil prices as a result of this by pressuring OPEC+ to increase output. This ...

A large portion of the election move in the dollar has been unwound. That, to us, looks more like a positioning adjustment ...

The BoE and Fed delivered largely anticipated cuts, but were reluctant to provide more guidance. Treasury and Gilt yields ...

The US Fed has cut its policy rate by 25bp. They acknowledge that policy remains restrictive and that further cuts are likely ...

Thursday’s NBP press conference hasn’t changed our conclusions from yesterday’s press release. The committee’s stance has ...

We expect oil and European gas prices to fall throughout 2025, with both balances looking more comfortable. The macro and ...

But the outlook for 2026 is more uncertain and clouded by the threat of tariffs. If those tariffs are watered down – either ...

Trump’s victory means there are more ‘known unknowns’ than even that other Donald, Mr Rumsfeld, could ever get his head ...