BoE: austerity ‘lite’ prevents BoE fright

With the much-anticipated new communications regime not starting for another month, no change for the BoE today meant today was a non-event. However, we have had 24 hours to digest the post-election “emergency” budget delivered by the Chancellor yesterday. It turned out, once again, that Osborne’s bark is worse than his bite. Throughout the election … More BoE: austerity ‘lite’ prevents BoE fright

Euro Area: The Five Presidents’ Report: the solutions remain the same, it’s over to the politicians

In the midst of the ongoing bailout nonsense negotiations with Greece, the long-awaited roadmap document for the future of the European economic and monetary union was released earlier this week (here). It comes over 18 months after the original “Four Presidents” report of November 2012 (here), with the Commission taking the baton from the Council in … More Euro Area: The Five Presidents’ Report: the solutions remain the same, it’s over to the politicians

FOMC: June meeting preview; Part 2 (statement, projections and dots)

Following on from the first part of my June FOMC preview yesterday (here), this post looks at the likely changes to the statement, economic projections and interest rate ‘dot’ plot. Now that the Fed are in more traditional data-dependency mode, I expect only the first paragraph of the statement to change, reflecting the data developments over … More FOMC: June meeting preview; Part 2 (statement, projections and dots)

Red list review: how are the macro themes developing in 2015?

Having first posted it 3 months ago, it is time for me review my “red list” of global macro themes. I tend to review it on roughly that frequency, in part to see if the themes have endured/played out as I had expected, and partly just because I think it is good practice to have … More Red list review: how are the macro themes developing in 2015?