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September 25, 2026
SNB: Keeps Rates Unchanged - in no Rush to Hike
September 25, 2026 11:06 AM UTC
Yesterday’s announcement left the SNB on hold at 0% while nudging its inflation forecast modestly upwards and dialling down its threat of intervention as a weakening in the Franc prompted it to pivot towards more vigilance on inflation. The market expects the SNB to hike early next year but we see
SNB: Keeps Rates Unchanged - in no Rush to Hike
September 25, 2026 11:05 AM UTC
Yesterday’s announcement left the SNB on hold at 0% while nudging its inflation forecast modestly upwards and dialling down its threat of intervention as a weakening in the Franc prompted it to pivot towards more vigilance on inflation. The market expects the SNB to hike early next year but we see
Mexico: Diverging From The Fed
September 25, 2026 7:52 AM UTC
· As expected Banxico left the policy rate unchanged at 6.50%, with the statement clarifying that the Mexican and U.S. economies are different and Banxico will not mechanically follow the Fed. The focus now is on the lagged benefit of easing and the inflation trajectory. Banxico will
September 24, 2026
Norges Bank hikes by 25bp
September 24, 2026 9:40 AM UTC
Norges bank increased rates by 25bp to 4.5% citing concerns over the inflation outlook. While the Bank noted that underlying inflation had moderated over the summer and was actually lower than they had expected in June, the outlook for inflation had not materially changed given the backdrop of highe
September 23, 2026
U.S. September S&P PMIs - Sharp gains in Manufacturing and Services back improved Q3 GDP signals
September 23, 2026 2:12 PM UTC
September’s preliminary S and P PMIs are startlingly strong, manufacturing at 57.0 from 53.9 and services at 58.7 from 56.5. The composite increased to 58.4 from 56.0. The numbers are consistent with a Fed view that the economy has strengthened recently, with recent data also suggesting that Q3
China and Brazil Outlook: Geo-Politics and Artificial Intelligence
September 23, 2026 10:05 AM UTC
· China’s growth momentum continued to be sustained by AI/tech and green energy production and investment. Growth is however imbalanced with subdued consumption growth, due to adverse housing wealth effects and slow wage/job growth. Overall, we kept our forecast at 4.4% for 2026 and 4
September 22, 2026
DM ex U.S.: Weathering Higher Energy Prices
September 22, 2026 1:22 PM UTC
· EZ. We expect the Eurozone economy to remain resilient in coming quarters despite the ongoing energy shock. Household consumption growth should strengthen into 2027, supported by a recovery in real wage growth and by favourable employment increases. Increased defence and infrastructur
September 21, 2026
BRICS and G20 In Trump 2.0
September 21, 2026 8:35 AM UTC
· Though the BRICS summit ended with a joint communique, Trump 2.0 policies are stopping a unified counter to the U.S. or the West. The December G20 summit at Trump’s Doral golf course in Florida is also likely to see the G20 papering over the cracks at a global level. Regional ag