Every pain avoided but in certain circumstances and owing to the claims of duty or the obligations of business it will frequently occur that pleasures have to be repudiated and annoyances accepted selection he rejects pleasures to secure.
The Fed eased its monetary policy, with two expected announcements: the end of the central bank’s balance sheet reduction process from 1st December; and a second straight cut (-25 bp) in the Fed Funds target, without unanimity, bringing it to +3.75% – +4.0%, due to downside risks in the labour market. We anticipate a further
The unexpected element lies in the (highly likely) lack of surprises. The suspense surrounding the outcome of the FOMC meeting on 28-29 October and the ECB meeting on 30 October is, in reality, quite limited: a further 25 bp cut by the Fed and a continuation of the stance for the ECB are expected. In
ADVANCED ECONOMIESUnited StatesUnexpected moderation in core inflation. While headline CPI reached 3% in September (+0.1pp m/m), in line with consensus, core CPI was lower (3% -0.1pp m/m and scenario at 3.1%). Goods inflation was stable (+1.5% y/y, with a monthly slowdown in new cars but +3% excluding this sector) and services inflation declined (+3.4% y/y
Tuesday, October 28, 2025 Eco Week Markets review – 27 October 2025 Eco Week EcoNews – 27 October 2025 Monday, October 27, 2025 Scenario and forecasts The updated scenario and forecasts of the Economic Research – 27 October 2025 Monday, October 20, 2025 Eco Week Markets review – 20 October 2025 Eco Week EcoNews –
Anxious relief, such was the mood in Washington DC last week during the Annual Meetings of the International Monetary Fund (IMF), from official and private sector participants alike. Relief that the global economy, and all its regional parts, are doing much better than expected in the Spring despite the US tariff shock. Anxiety that underneath
World economyInternational monetary fund- IMF economic growth forecasts (World Economic Outlook, October 2025: Global Economy in Flux, Prospects Remain Dim): the IMF acknowledges the resilience of global growth in its forecasts (revised up by 0.4pp compared with April, to 3.2% for 2025 and 0.1pp to 3.1% for 2026). Relative stability is also expected to prevail
Monday, October 20, 2025 Eco Week Markets review – 20 October 2025 Eco Week EcoNews – 20 October 2025 Eco Week Anxious Relief Over the State of the Global Economy Scenario and forecasts The updated scenario and forecasts of the Economic Research – 20 October 2025 Tuesday, October 14, 2025 Eco Week Markets review –
Modernity sometimes conceals, under new guises, a return to old precepts: a currency backed 100% by the safest assets, bank deposits guaranteed by tangible reserves, the search for unfailing financial stability. Stablecoins (digital tokens backed by highly safe and liquid assets) are part of this logic. However, in our modern economies, banks only keep a
ADVANCED ECONOMIESInternational tradeRenewed tensions between the United States and China. China has announced new restrictions on rare earth exports (by including equipment and technologies using these critical metals) and introduced port fees on US ships, effective 14 October. This second measure is a direct response to Washington’s decision to tax Chinese ships entering the United
Tuesday, October 14, 2025 Eco Week Markets review – 13 October 2025 Eco Week EcoNews – 13 October 2025 Monday, October 13, 2025 Scenario and forecasts The updated scenario and forecasts of the Economic Research – 13 October 2025 Monday, October 6, 2025 Eco Pulse China: Gloomy mood during the summer Eco Pulse Japan: Flat
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