Message in a bottle

It was vintage Lagarde this week as the ECB president poured old wine from a barely new bottle. This month's Fed meeting is unlikely to be sparkling; we preview it. China's growth story might give you a headache; watch the video. And along with Russia's big rate hike - don't mess with Elvira - we examine the global implications of Germany's elections. Prost!

In this bundle

The ECB pours old wine from a barely new bottle

The ECB slightly changed its forward guidance as a result of the new strategy, becoming even more dovish. As a result, any tapering announcement in…

China

Pang: A stark warning about China’s future growth

China's growth prospects are looking shaky and our Chief Economist for Greater China, Iris Pang, is worried. Here's why

United States

Tapering talk and policy normalisation: What to expect from the Fed

While no Federal Reserve policy changes are expected in July's meeting, we could hear more about the tapering discussions that started in June. The…

and

Germany

The global implications of Germany’s September elections

Germany's September elections not only mark the end of the Merkel era but could also mark a structural change in Germany’s fiscal stance

Russia

Russia aggressively hikes rates but the ceiling is in sight

A 100 basis point hike to 6.5% was slightly more aggressive than we expected and inflation is to blame. The Central Bank of Russia now doubts that CPI…

Transport & Logistics

Automotive Sector Update: Recovery underway, stirred but undeterred

Global car sales showed a recovery in the first half of this year against a weak backdrop last year. We are reiterating our expectations of 7 to 9% growth…

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