In case you missed it: Worse and worse

Mario Draghi has set the scene for a big bang in September, consumers are rescuing the US economy and risks to EUR/USD have skewed towards 1.10 rather than 1.15 over the summer. Looking ahead, the Bank of England meets next week, but we're not really expecting any meaningful action. The Fed meeting, on the other hand, should be a completely different story

In this bundle

United States

The US Fed’s expected to prolong the party with a cut this week

The US economy is experiencing its longest expansion on record, but weaker external demand and trade tensions are risks to the outlook. A benign inflation…

United Kingdom

Brexit and the next 100 days in five charts

New UK prime minister Boris Johnson will face the same hurdles as Theresa May, and crafting a new Brexit deal will be tricky. The new leader may be open…

US: Appetite to spend fuels 2Q GDP growth

Surging consumer and government spending offsets temporary weakness elsewhere, suggesting limited need for major Fed stimulus

ECB: Preparing the big September bang - part II

During the press conference, Mario Draghi added some flavour to the announced language changes. Not everyone at the ECB seems to be ready for a big…

China

China changing how it eases

The Chinese central bank has injected liquidity using its medium-term lending facility (MLF) and targeted medium-term lending facility (TMLF), eschewing…

EUR: The signalled September ECB easing to keep the euro under pressure

Despite the euro’s 'buy the rumour sell the fact'-like rebound, we see downside to the euro over coming months. We expect the ECB to…

Turkey

Turkish Central Bank front-loads with big rate cut

Turkey’s central bank cuts its policy rate by 425bp to 19.75%. It clearly feels more confident about the strength of the ongoing disinflation trend…

South Korea

South Korean economy dodges recession

The Bank of Korea’s policy interest rate cut a week ago is a step in the right direction as the central bank’s 2.2% GDP growth forecast for…

United Kingdom

Watch: Boris, Brexit, the Bank and Britain’s pound

Boris Johnson is to be the UK's next Prime Minister. With 100 days to go before Britain is due to leave the European Union, ING's James Smith…

Report Rates

Global debt flows: De-risking in Govies seen, but still long duration

We face into the 31 July FOMC meeting (and the ECB) with a market-place that is quite long duration. It is also long risk generally as evidenced from…