• Top 3 data/events
• Malaysia – CPI inflation likely edged up further in January
• UK – BoE minutes to echo Inflation Report as unemployment falls to 7%
• South Africa – January CPI inflation a key focus
• Market focus
• Credit growth was...
We update our CFA franc barometer and find that there is little pressure for a devaluation at the moment
• The euro-area crisis is unlikely to lead to a review of the current peg of the CFA franc to the EUR
• Despite its shortcomings, the present ...
• The ECB cuts the refi rate by 25bps to a new low of 0.5%, as expected
• A deposit-rate cut will be considered if required but, for now, such a move looks a low probability
• The ECB will work with other institutions to kick-start the ABS market,...
The ECB will ‘monitor very closely all incoming information in the coming weeks’
• Standard and non-standard measures are being considered; we expect action next month
• Draghi warns that recovery is subject to downside risks...
Top 3 data/events
• Malaysia – Still-muted inflation is expected
• Taiwan – Export orders likely to show ongoing revival in tech demand
• US – Housing construction data to confirm its upward trend
• Market focus
• Cyprus ‘bail-in’ unnerves e...
Euro-area political stresses will refocus attention on what the ECB’s euro promise really means
• Cyprus may represent a unique situation, but depositors around the euro area may be unnerved
• We put our (bearish) end-Q1 and Q2 EUR-USD forecasts u...
• ECB rates remain unchanged; in our view, policy makers do not want market rates to rise at this stage
• Draghi warns that EUR appreciation brings downside risks to inflation
• Financial conditions have improved, yet the ECB continues to fret abo...
• Singapore – PMI likely remained in contractionary territory
• Oil – Rising crude prices are likely to be reined in
• US – Lacklustre public-sector job data probably weighed on payrolls ...
The ECB keeps rates unchanged; we are pushing back our forecast of a 25bps refi rate cut to Q2-2013
• Upbeat financial markets are driving ‘positive contagion’, but economic risks remain to the downside
• The jury is still out: in our view, politi...
The upturn in euro-area sentiment remains susceptible to a deterioration in politics in the region
• But ECB and ESM backstops, plus upcoming German elections, limit near-term downside risks
• Trade and budget imbalances are correcting, but a sti...
If this is a public computer please consider checking this box carefully.
Please access our research via your Straight2Bank account
The world economy is in transition. Global growth rates are picking up, but transition means elevated risks and volatility.
In terms of global implications, all eyes will be on the US and China, with the US normalising monetary policy and China rebalancing its economy.
About Standard Chartered
Group investor relations
Group media centre
WB media centre
Copyright © 2014 Standard Chartered Bank