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March 19, 2026
U.S. January New Home Sales - Weakness erases signs of improvement in trend
March 19, 2026 2:16 PM UTC
January new home sales have seen a sharp 17.6% decline to 587k, the weakest level since October 2022. Much of this weakness is probably due to weather, though other data from the housing sector suggests that signs of a pick-up in late 2025 have faded in early 2026.
BoE Review: A Fragile MPC Truce?
March 19, 2026 12:59 PM UTC
Very clearly, the BoE kept rates on hold with no dissents as it understandably waits for more information about the length, breadth and repercussions of the Iran war. The individual MPC member statements (as expected) showed diverging views as to the extent and reaction of what are now unfolding r
U.S. Initial Claims low, Philly Fed stronger, but full impact of energy shock still to be felt
March 19, 2026 12:57 PM UTC
The latest US data is stronger than expected, initial claims at 205k from 213k reaching a 9-week low in the survey week for March’s non-farm payroll, and March’s Philly Fed manufacturing index of 18.1 from 16.3 at a 6-month high. The full impact of the Middle East conflict however is however yet
Sweden Riksbank Review: On Hold and More Likely Still For Some Time
March 19, 2026 9:26 AM UTC
Surprising hardly anyone, the Riksbank (again) kept policy on hold with the key rate left at 1.75% it latest verdict. However, what was more important was if and how the Board changed its rhetoric. In this regard, it repeated its assertion of no change for some time to come but qualified it some
SNB: Steady Policy With Concern on Strong CHF
March 19, 2026 8:58 AM UTC
· The SNB maintained the policy rate at zero, with a 0.2% increase in 2026 CPI due to the Iran war but 2027 0.1% lower at 0.5% due to CHF strength since the December meeting (Figure 1). The emphasis in the statement on guarding against the disinflationary risk from more CHF strength s
Brazil: Cautious 25bps Cut
March 19, 2026 7:27 AM UTC
BCB gave no detailed forward guidance, but they did hint at flexibility and did not lock themselves into only 25bps steps in future meetings. We do feel that policy is very tight and that a further cut will be evident at April 29 meeting. This could be either 25bps or 50bps depending on the leng