Central banks that adapt but do not create movement
At the central bank meetings this week, the change in tone and the measures announced have essentially reflected the end of macroeconomic catching-up. GDP has converged to a level equivalent…
Philippe Waechter's blog
What to expect this week ? December 16 to 22, 2019
Markit Surveys (Flash estimates for December), IFO survey, INSEE Climat des Affaires, the Italian Business Survey, the industrial production in China and in the US, Retail sales in China, Meeting…
Wishful thinking at the Bank of England
The BoE comment on its monetary policy suggests that a rate hike is a possibility at the August meeting as activity is expected to rise. BUT, the momentum is low…
On the BoE monetary policy
The Bank of England has increased its main rate by 25 basis points to 0.5%. Two reasons to explain this movement 1 – The British economy has changed and its…
It’s all up in the air with central banks
Have the central banks become sources of confusion for investors? We may well think so after comments by the president of the European Central Bank Mario Draghi, and the governor…
The Bank of England dilemma
Interesting time in the UK as the Bank of England is facing an important arbitrage. There are potentially two types of shocks in the UK. One is associated with the…
Inflation on the upside in the United Kingdom
The current acceleration of the inflation rate creates a complex situation in the United Kingdom as it weighs on households’ purchasing power. In April the inflation rate was at 2.7%…
Brutal adjustment on property funds in the UK
The logic behind the brutal adjustment on property funds in the UK is quit simple. For non resident investors, the deep depreciation of the sterling has led to lower or…